Author: Orientalnews Staff

Yemisi Izuora  Governor of Lagos state, Akinwunmi Ambode Tuesday presented a budget proposal of N852.316billion for 2019 to the House of Assembly. The Chief Press Secretary to the governor, Mr. Habib Aruna, said in a press statement that N462.757 billion representing 54 per cent of the total budget size had been earmarked for capital expenditure, while N389.560 billion representing 46 per cent had been dedicated to recurrent expenditure. Also key projects such as the Oshodi-Murtala Mohammed International Airport Road and Oshodi Interchange Terminal, among others would be completed. Ambode said from inception of his administration, nine key areas were given…

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The struggle to institutionalize legitimate and resilient democracies in Africa will be further shaped by the 2019 elections – with direct consequences for security. Africa is set to host two dozen national elections in 2019. This reflects a now established norm of elections as the recognized means for selecting African leaders. The quality of these elections continues to vary widely, however, with some merely serving as a perfunctory ritual by which leaders maintain their claim on power. Nonetheless, a host of competitive elections will be held in Africa in 2019, including in three of the most consequential democratic experiences underway…

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The insurance sector has in the past ten years achieved an average growth rate of 35.07 per cent in both life and non-life classes of business. A breakdown of this showed that life business recorded a higher growth rate of 27.64 per cent, while non-life grew by 7.43 per cent in the last 10 years. Available statistics from the latest edition of the Nigeria Insurers Association’s annual digest showed that life business witnessed highest increase in premium of 85.8 per cent in 2008m, but recorded poor performance in 2016 when it recorded -0.50 per cent increase in premium generation. However,…

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Fast rising Independent measurement and evaluation agency, P+ Measurement Services, has launched a measurement and evaluation training program, MATE+ to train young and mid-level marketing and communications professionals in Nigeria. Measure|Analyze|Train|Evaluate + (MATE+), is designed to help close the knowledge and experience gap in media measurement and evaluation, by granting trainees access to classroom styled training, that builds their capacity in the evaluation and analysis spectrum. The program will feature 6 granular modules across the marketing communication practice and participants will have the opportunity to choose courses relative to their profession and need. The modules will cover Measurement and Evaluation in Public Relations, Measurement and Evaluation in Advertising,…

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Muhammad Suleiman thought it was safe to go home after the army drove Islamist insurgents from his town in northeastern Nigeria three years ago. In December, the militants struck again. Suleiman fled into the bush, leaving his voter card behind with most of his other belongings.  The 28-year-old carpenter now fears he will not be able to take part in Nigeria’s presidential election on Feb. 16.  Though authorities say they will set up polling booths in the camp where Suleiman has taken shelter in the city of Maiduguri, in the state of Borno, only those with voter cards will be…

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Source:BBC “Godfathers” in Nigerian politics don’t usually run for office themselves, but many believe they are the ones who decide the election winners and losers. With campaigning well under way for general elections on 16 February, these are the men – and they invariably are men – who pull the strings behind the scenes. They are political sponsors, who use money and influence to win support for their preferred candidates. Their “godsons”, it is believed, are not always selected for their political acumen, but rather on their ability to repay and enrich their godfather. These arrangements have spawned the term…

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Yemisi Izuora  Oil hit a two-month high above $63 a barrel on Monday as OPEC-led supply cuts and U.S. sanctions against Venezuela’s petroleum industry offset forecasts of weaker demand and an economic slowdown. The Organization of the Petroleum Exporting Countries, OPEC, and its allies began a new round of supply cuts in January. These curbs, led by Saudi Arabia, have been compounded by involuntary losses that the Venezuelan sanctions could deepen. On the strength of these dynamics Brent crude the global benchmark, hit $63.40 a barrel, the highest since December 7, and was up 49 cents at $63.24. U.S. crude…

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Africa’s first presidential election of the year may be its most important as the continent’s most populous country and its largest economy and oil producer selects its leader for the next 4 years. Incumbent Muhammadu Buhari of the All People’s Congress faces leading rival Atiku Abubakar of the People’s Democratic Party, as well as 30 other presidential hopefuls in the first round of voting in February. Security will be a key issue on voters’ minds. Buhari won elections in 2015 on a platform that he could end the Boko Haram insurgency. While the number of attacks and fatalities linked to…

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Hyacinth Chinweuba Barrister Samuel Nwakahu has been appointed as the substantive Registrar of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN). Recall that the Council had recently through an online recruitment agency, ngcareer.com advertised the position vacant after the former Registrar, Mike Jukwe retired from the service. About 900 applicants applied for the post but Barrister Nwakahu emerged the successful candidate after thorough scrutiny was carried out. Dr. Alban Igwe Director, Training, CRFFN and Dr. Eugene Nweke, a former president of the National Association of Government Approved Freight Forwarders (NAGAFF) were among the 900 applicants vying for the Council’s…

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Yemisi Izuora  JPMorgan Chase & Co, has asked a London court to dismiss a lawsuit brought by the Nigerian government that accuses the bank of failing to prevent $875 million in corrupt payments. The lender insists it got the correct approvals from Nigerian officials before transferring the funds to accounts controlled by a former oil minister who has been convicted of money laundering, and that the government’s claim has no real prospect of success.  The federal government had last year filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from…

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