Go-Round Fc qualifies for NPL.

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17/01/2018

Go-Round Football Club of Omoku has qualified for the next season’s Nigeria Premier League race.

The club which was at the government house Portharcourt on a goodwill tour met with the Rivers state Governor, Nyesom Wike, on Tuesday.

The Governor who addressed the players and management of the club, also announced the donation of a Toyota Coaster Bus to ease the transportation needs of the club.
Governor Wike also donated the sums of 50 million Naira to the club for qualifying and another 10 million for the supporters of the club.
The club will join the state-owned Rivers United in the Nigeria premier League.

Federal Government Insists On Hold On Incremental Electricity Tariff-Minister Babatunde Raji Fashola

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16/01/2018

The embattled Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola, defended the decision of the Nigerian Electricity Regulatory Commission (NERC) to hold back the implementation of up to three consecutive tariff reviews owing to factors he articulated on Channels Television early morning show yesterday in Abuja.

He said it would be difficult to allow the 11 electricity distribution companies (Discos) in Nigeria’s power market charge new rates on electricity they supply to their customers across the country because the country does not have an accurate record of electricity consumers in the Discos’ networks or enough customers that are metered by the Discos. Fashola, stated that in as much as the tariff was important to the commercial operations of the electricity market, the government would want to see that it is fair, and would do this by properly dimensioning the market.

He further posited that it was impossible to have a fair tariff in an electricity market that has just about seven million households as its recognized customers out of Nigeria’s 180 million people, adding that proper consumers’ enumeration was required to establish the true basis for calibrating tariffs in the sector. He also noted that the Discos would have to improve on their deployment of meters to consumption points, and that until these were done, approving a cost reflective tariff for the market looked difficult.

The portcitynews believes that this may come as a temporary relief to consumers who are more often than not frustrated from lack of proper metering and estimated bills are forwarded to them monthly whilst they experience power outages yet still get to clear these outrageous bills at the end of the month or get disconnected and at the end of it all coerced to pay re-connection fees too.

Nigerian stock surges in 2018.

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Editor

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16/01/2018

The world-beating rally in Nigerian stocks may not be over yet.

The main equity index in Africa’s biggest economy has surged 12 percent this year in dollar terms, the most among 96 major bourses tracked by Bloomberg, pushing it to the highest level since 2008. Dangote Cement Plc, controlled by Africa’s richest man, Aliko Dangote, and the largest company on the exchange, has climbed to a record high.

The advance will probably be sustained thanks to rising prices for oil, Nigeria’s main export, and as investors look to increase their holdings of what remain among the cheapest stocks in Africa, according to the asset management arm of South African lender FirstRand Ltd.

“For investors wanting more exposure to consumers in Africa and Nigeria, in particular, the outlook is good,” said Paul Clark, a money manager in Johannesburg at Ashburton Investments, which owns Nigerian stocks including Seplat Petroleum Development Co. “The banking sector is probably the most attractive at the moment, especially the tier-2 lenders.”

Here are three more charts assessing what may lie ahead:

Foreign investors have been crucial in driving the market higher. The New York-based Global X MSCI Nigeria ETF attracted record weekly net inflows last week. That helped to increase the exchange-traded fund’s market capitalization to almost $90 million, double the level in May last year.

Even after the gains, Nigerian valuations are the least expensive among the major African equity indexes. Nigerian stocks trade at a forward price-to-earnings ratio of 10.1, while South Africa’s are at 14 and the MSCI Emerging Market Index is at 13.

That suggests there’s further upside, according to Cape Town-based fund Allan Gray. While foreign investors turned negative on Nigeria after following the 2014 oil crash and subsequent recession, the economy picked up last year and growth is forecast by the International Monetary Fund to accelerate to 2.1 percent in 2019.

“For long-term investors, Nigerian equities were a screaming bargain,” said Nick Ndiritu, co-manager of Allan Gray’s $389 million Africa equity fund, which doesn’t include South Africa. “Investor sentiment has turned more bullish on Nigeria and a re-rating of the Nigerian stock market is now under way.”

Still, there are some warning signs. The 120-day correlation between Nigerian stocks and Brent crude is now around the highest in two years. If oil prices reverse their 45 percent climb since June, Nigerian assets could take a hit.

That’s one reason HSBC Holdings Plc has a negative outlook on the stocks. The U.K. bank also says Nigeria will have to free its currency further. While the central bank eased some capital controls last year and opened a trading window for foreign portfolio investors, it continues to operate several exchange rates.

“Nigeria’s multiple exchange rate system is likely to remain a key drag, keeping long-term investors on the side lines,” HSBC analysts David Faulkner, John Lomax and Kishore Muktinutalapati said in a note on Jan.

Curled from Bloomberg.

Again, Nigeria ranks low in the Global Gender Gap report.

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Editor

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16/01/2018

Nigeria has yet again ranked low in the Global Gender Gap Report.

Nigeria took 122nd position in the World Economic Forum Report behind other African countries like Gambia and Burkina Faso.

The report which was based on four key subindex that includes: Economic participation and opportunity, educational attainment, health and survival and political empowerment, studied and surveyed the gaps between men and women in a total of 144 countries.

Key variables for the study were derived from the four key subindex and matched with data from different international organizations like the world Bank, world health organization and Unesco.

The indicators where chosen by focusing on gaps rather than level which captured gaps in outcome variables rather than gaps in input variables.
It also ranked countries according to gender equality rather than women empowerment.

The study accessed resources and opportunities in the countries captured rather than actual levels of the available resources and opportunities in those countries and evaluated countries based on outcomes rather than inputs or means.

It provided a snapshot of where men and women stand with regards to some fundamental outcome indicators related to basic rights such as health, education, economic participation and political empowerment.

In the Global Index, Nigeria ranked 122 out of 144 countries. However, it ranked 37 out of 144 countries, above France, Germany, United Kingdom, Netherlands and Spain in Economic Participation and Opportunity subindex.

African countries like Burundi, Botswana and Rwanda were ranked 1st, 6th and 7th out of the captured 144 countries in the Economic Participation And Opportunity subindex.

In the Educational Attainment subindex, Nigeria was ranked 135 out of the 144 captured countries as against Botswana which took the 5th position.

In the Health And Survival Subindex, Nigeria was ranked 94 while Burundi, Botswana, Kenya, South Africa and Namibia topped the list.

Nigeria was also ranked 136 in the Political Empowerment Subindex for women while Rwanda came third.
In Africa, Nigeria was ranked 26 in overall gender gap index behind Gambia and Burkina Faso.

Iceland took the first position in closing 87% of its overall gender gap followed by Norway at 83% and Finland at 82%.
Rwanda took the 4th position in the Global Gender Gap with 82%, slightly behind Finland. This is mostly due to continued progress on its economic participation and opportunity subindex.

Omerua marries long-time girlfriend.

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16/01/2018

Super Eagle’s and Chelsea Fc defender, Kenneth Omerua has married his long-time girlfriend, Chioma.

The quiet traditional marriage which took place in Enugu Last week had friends and family in attendance.

The reclusive Omerua who is on loan to the a Turkey’s giant Kasimpasa from Chelsea, posted the wedding pictures on his Instagram handle.

Udom sacks SSG, appoints replacement.

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16/01/2018

The Akwa Ibom State Governor, Mr. Udom Emmanuel, has sacked the Secretary to the State Government, Mr Etekamba Umoren.

The Governor announced the immediate appointment of Dr. Emmanuel Ekuwem as the new Secretary to the State Government.

A statement by the Commissioner for Information and Strategy, Mr Charles Udoh, and made available to newsmen in Uyo on Monday indicates that the appointment is part of the continuous effort to rejig the governance structure of the state, which started with the swearing-in of two new commissioners less than two months ago.

Dr. Ekuwem, has a Bachelors degree in Engineering Physics, Masters Degree in Physics, Masters Degree in Electronic & Electrical Engineering (Microcomputer-based Instrumentation and Control Engineering) and a PhD in Electronic and Electrical Engineering (Computer-based Instrumentation and Control Engineering).

Until his appointment, Dr. Ekuwem was the Founder and CEO of Teledom Group, a former National President of the Association of Telecommunication Companies of Nigeria (ATCON) and a former President of Nigeria Internet Group (NIG).

He is the immediate past Chairman of the Board of Nigerian Export Processing Zone Authority, NEPZA.

He hails from Ofi Uda in Mbo Local Government.

The newly appointed SSG will be sworn in at 2pm on Tuesday, January 16, 2018 at the Government House Banquet Hall, Uyo.

Nigerians remember the fallen heroes.

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15/01/2018

Nigerians across the globe on Monday , paid respect and prayed for those in the armed forces who paid the Supreme price for the preservation of Nigeria’s unity.

In a ceremony in Abuja attended by President Mohammadu Buhari, the Vice-president and the service chiefs, a wreath was laid for the fallen heroes with similar events taking place in the 36 states of the Federation.

The Governor of Borno State had earlier on Monday, prayed with the officers and theatre commanders of Operation Lafya Dole, asking for the repose of those who have departed.

The Governor, who thanked the officers for their service, said that his government will do all it can to ensure a better working condition for those fighting at the frontline.

The Governor of Rivers state, Nyesom Wike, in a ceremony held at the Isaac Adaka Boro’s Park,

thanked the members of the armed forces for their role in maintaining law and order in the state and prayed that God will grant eternal rest to those who are departed.

I don’t have anything against Fulanis – Fayose.

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Editor

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15/01/2018

TPCN – The Ekiti State Governor has said that he does not harbor any ill feeling against the Fulanis and the herdsmen among them.

The Governor, however, noted that Ekiti state will not surrender any part of its land for the Federal Government’s proposed cattle colony.

In a series of tweets using his official twitter handle, the Governor said that it is not the business of government to set up businesses for private individuals, noting that he has never seen government construct ponds for fish farmers.

He said :“I don’t have anything against the Fulanis and the herdsmen among them. But let me state it expressly that Ekiti will not surrender its land for cattle colony”

“Cattle farming is a business and it is the duty of business owners to get tools. Does government build ponds for fish farmers?”

This is coming after weeks of bloodshed due to series of clashes between the nomadic cattle breeders and indigenous farmers in several states across the country.

The Minister of Agriculture, Chief Audu Ogbe, had expressed the government’s willingness to end the herdsmen-farmers clashes by developing cattle colonies across the Federation, a move that has been condemned by most governors.

On the issue of protection of life, the governor said that he will never play politics with the lives of Ekiti people, stressing that protection of lives must be done anyway and which ever way.

Fayose who had earlier on provided hotlines for the indigenes of the state to report any strange movement of herdsmen in the state, met with local hunters across the state and charged them to protect the people against killers herdsmen since – according to him – he has no one in Abuja to run to.

He said: “With ranching, cattle farmers will make more money, especially from milk and those who will cultivate grass to sell to cattle farmers will also make money. Those countries where we import milk do not get the milk through nomadic cows”

In a similar vein, the Governor of Abia State, Dr Okezie Ikpeazu, has also expressed its unwillingness to surrender any part of the state for the proposed cattle colony.

In a statement through the special assistant to the Governor on media, the governor said that Abians as farmers do not have enough land for its indigenous farmers and so would not give out any portion of its land for cattle grazing.

Arsenal loses 2-1 to Bournemouth

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14/01/2018

Bournemouth scored twice in four minutes as they came from a goal down to see off Arsenal 2-1 at the Vitality Stadium for their first-ever win over the Gunners.

The home side mustered the first attempt when Adam Smith fired wide early on, but after eight minutes Arsenal were within a whisker of breaking through.

The chance came when Jack Wilshere, on loan at Bournemouth last season, linked with Alexandre Lacazette to find Ainsley Maitland-Niles, whose effort cannoned back off the bar.

Alex Iwobi tested home keeper Asmir Begovic before Bournemouth midfielder Dan Gosling was booked after going to ground under a Shkodran Mustafi challenge when the Arsenal player appeared to have caught him.

With 10 minutes to go until half-time, Arsenal were close to breaking through when Danny Welbeck evaded a Simon Francis challenge to force Begovic into more action, but back came Bournemouth and Ryan Fraser saw a dangerous-looking strike blocked.

After a quiet start, the second half burst into life when Arsenal took the lead after 52 minutes, Hector Bellerin on target after Iwobi had put him through one-on-one with Begovic, who got a hand to the strike but could not stop it.

Iwobi and Lacazette linked up after 67 minutes only for the final ball from the former to go awry — and within three minutes of that wasted opportunity Bournemouth had equalised.

The goal came when Fraser and substitute Lys Mousset swapped passes down the right and Callum Wilson was in the right place to turn home the cross.

Four minutes later, soon after Arsenal had brought on Aaron Ramsey to try and get themselves going again, the turnaround was complete when Wilson controlled a long pass forward and set up Jordon Ibe, whose shot went in off Cech.

Wilshere had an effort blocked after making himself space with time running out, and soon afterwards Bournemouth boss Eddie Howe made a change, bringing off Ibe and replacing him with Marc Pugh.

Wilson made way for Benik Afobe with time running out as Bournemouth held on for three vital points to lift them to 13th and further away from the danger zone.

On Saturday, it was another goalless draw for Chelsea when they played host to Leicester city. Crystal Palace edged over Burnley with 1-0 win.

Tottenham Hotspur maintained 4-0 lead over Everton.

Arsenal loses 2-1 to Bournemouth

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Editor

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14/01/2018

Bournemouth came from a goal down and scored twice in four minutes to secure a win over Arsenal 2-1 at the Vitality Stadium in their first-ever win over the Gunners.