Guardiola: Chelsea Clash Will Show If City Has Progressed

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Pep Guardiola believes the match against Chelsea will show where they are, as he challenged City to get a win on Wednesday.

Manchester City’s season has been one so inconsistent, as they find themselves 11 points behind table topping Chelsea.

The reverse fixture saw Chelsea run out 3-1 winners, with the match ending in the late sending off of Fernandinho and Aguero.

“We are in a process of improvement,” Guardiola stated at a news conference. Pep Guardiola Manchester City “I know now where we are – the good things and the things we must improve – but Wednesday will be a good test on a big stage. There are a lot of things we can improve, in the boxes especially.

“Chelsea will be a big game and especially a big game away, it is important to learn from these kinds of games for the future. Chelsea deserve to be where they are, they have won a lot of games and deserve their position. They play less games, they have more time to prepare. But Chelsea will be in Europe next year and they have the quality to compete.

“Every game is completely different, what I would like from my team is to go out and play. What happened last time was many, many things. Our frustration on the pitch happened. Sergio [Aguero] and Fernandinho are nice guys. “There are nine games left. We have to take as many points as possible and we will see.”

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Winks To Miss Remainder Of Season

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Harry Winks has been ruled out of action for for the remainder of the season, after sustaining a ligament injury against Burnley.

The English midfielder was stretchered off in the 2-0 win over Burnley after colliding with Stephen Ward.

A statement from the club said: “Harry Winks will continue to be monitored by our medical team during his recovery and will be unavailable for the remainder of the season.”

Pochettino believes the midfielder can grow into one of the best in England.

“He was playing well and I’m sure in time would have been considered by Gareth Southgate,” Pochettino said.

“He is a very good prospect, a player who is dynamic and aggressive. He needs time to be consistent but in time he can be one of the best midfielders for England.”

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Lukaku Wants To Make History With Everton

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Romelu Lukaku is hoping to make history for Everton by helping them qualify for the champions league.

Everton are seventh on the table and eight points behind fourth placed Manchester City, who have a game in hand.

The 23-year-old Lukaku has been key to Everton’s season, scoring 21 goals in 29 matches, but he is looking to leave in search of silverware.

“I want to create history at the club,” Lukaku, speaking to EASPORTS.com, said. “I want to push for a top four spot and I think we have to aim for this.

“Personally, I just want to improve and become a better player than I am today.

“The season isn’t over yet and we want to do even better than we are already doing.”

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ASUU Embarks On 7-Day Warning Strike In University Of Ibadan (UI)

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The Academic Staff Union of Universities (ASUU), University of Ibadan (UI) Chapter, has declared a one-week warning strike over illegal pension deductions, fractional salary payments and non-payment of supervision allowance.

The decision was taken on Tuesday at a congress convened by the union and presided over by its Chairman, Deji Omole.

The News Agency of Nigeria (NAN) reports that members also complained about excessive deductions in their March salaries.

The management of the university was also alleged to have failed to declare the Internally Generated Revenue (IGR) profile of the university.

According to Mr. Omole, the warning strike is, therefore, to compel the university administration to address the issues which ASUU said bordered on the welfare of her members who are being owed since 2010.

“The congress of ASUU, UNIBADAN, at its meeting of 4th April, 2017, having received permission from the national body of the union, hereby, declare a one-week warning strike.

“The warning strike will commence from 12:01 midnight of Tuesday, 4th April, to 12:00 midnight of Tuesday, 11th April, 2017.

“The congress of the union maintains that the failure of the university administration to satisfactorily resolve all the issues, will force the union to proceed on a comprehensive and total strike,” said Mr. Omole.

The congress, which was well attended, was also addressed by the national delegates of ASUU, which included Mahmood Lawan, from Kano; Tony Monye-Emina, from Benin and Bebe Sese, from Port Harcourt.

NAN recalls that the union had in a congress resolution in March warned the university management to address its grievances, bordering on reversal of illicit deductions and non-payment of promotion arrears.

The three non-academic staff unions of the institution had also been on strike since March 13, grounding administrative activities in the institution.

(NAN)

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Ibrahimovic Certain United Will Finish In Top Four

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Ibrahimovic is ready and itching to go for United when he returns, and is certain they’ll finish in the top four.

Ibrahimovic has served his three-match ban and will play againagainst Everton on Tuesday. United are five points behind City in fifth and also have a game in hand.

The swede, who has 15 goals in the premier league is certain his return will restore United’s fight for fourth position and UCL qualification.

“I feel good,” he told MUTV. “I missed Old Trafford and the games with my team, but finally I am back and hopefully I come back with positive vibes.

“One game can change a lot – suddenly you can be third, fourth, fifth, sixth.

“First is too far away, second probably also, but otherwise it’s very tight and if you succeed in winning two or three games in a row then you’re in the Champions League spots.

“I think we will make it and we will be there. We have gained the points we need to be in the Champions League, though we are on the limit now. A little bit more and we will reach the top four I believe.”

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Buhari To Unveil Nigeria’s Economic Recovery Plan On Wednesday

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President Muhammadu Buhari will be inaugurating the Economic Recovery and Growth Plan (ERGP) 2017-2020 on Wednesday, March 5, 2017.

This disclosure was made by the Special Adviser on Media and Publicity to the president, Femi Adesina, in a statement on Tuesday in Abuja.

Mr. Adesina said the inauguration of the plan was in furtherance of the current administration’s drive to sustain and build on the successes so far recorded in tackling corruption, improving security and re-revamping the economy.

The News Agency of Nigeria (NAN) quoted him as saying that the formal inauguration of the plan will take place in the council chambers of the presidential villa, Abuja, at 11 a.m.

The Medium-Term ERGP was approved by the Federal Executive Council (FEC) during one of its meetings in 2017.

The launching “is to sustain and build on the successes so far recorded in tackling corruption, improving security’’.

“ERGP is to restore sustainable, accelerated inclusive growth and development; investing in the people; and building a globally competitive economy,’’ he said.

The plan was specifically designed to take the country out of the recession and in the long term, continue to grow the economy while planning of the 2017 was also based on the ERGP to accelerate speedy recovery and development of infrastructure.

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Klopp: Mane Could Miss Rest Of The Season

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Jurgen Klopp has revealed there’s a possibility of his star attacker Sadio Mane missing the rest of the season.

The forward sustained a knee injury in the 3-1 Merseyside derby win over Everton, leaving the match in the 57th minute.

Klopp did not come out to state Mane would not be playing for the remainder of the season, but has admitted it is possible.

Speaking ahead of Wednesday’s game with Bournemouth at Anfield, he said: “Unfortunately that’s possible. When a knee is swollen, it’s not often I hear afterwards that it’s nothing.

“We wait for final assessment. It’s possible [his season could be over] but why should I say that now?

“It’s not very positive. But we cannot say what it is exactly. It’s not 100 per cent clear. We have to wait a little bit. I can say for sure he won’t be available for tomorrow.”

He added: “Everyone would miss Sadio. Southampton probably still miss him, Salzburg still miss him.

“But we still have wonderful players to choose [from]. [We need to] make the best season we can.

“But losing Sadio on Saturday was like ‘oh my God’. Can’t we have one day where everything is perfect.”

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Boko Haram: NYSC Set To Reopen Maiduguri Orientation Camp

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The National Youth Service Corps (NYSC) on Tuesday said that it was working towards re-opening its Orientation Camp in Maiduguri following return of relative peace to the state.

The Director-General of NYSC, Suleiman Kazaure, who hinted this while speaking to pressmen in Maiduguri, said the Scheme was keen to re-open the camp following the return of peace to the state ravaged by the Boko Haram insurgency.

H said: “There is relative peace now in the state, so we will like to come back as soon as possible. Remember, the Internally Displaced Persons (IDPs) are still occupying the Orientation Camp.”

Mr. Kazaure said the camp would be re-opened once the IDPs were evacuated from it.

“It is only in Borno that our corps members have yet to have their orientation camp in place.

“We are ready to start our orientation the moment the state government releases our camp to us,” he said.

Mr. Kazaure commended the corps members serving in the state for their dedication and resilience.

“If you notice, I asked them about their morale and they responded by saying morale high. That is how we measure the psychological frame of the corps members.

“Minus the camp, every other thing is in place for them. This means that they are in good spirit, they are doing well”, he said.

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Nigeria’s Economic Outlook In 2017

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Nigeria’s Economic Outlook In 2017, By Ayo Teriba

Global Gluts and Nigeria’s Growth and Stability

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Nigeria’s economy came to be defined by recession and devaluation in 2016, pressing home the point that Nigeria’s growth and exchange rate stability in the decade-and-half from 2000 to 2014 had been entirely dependent on favourable global commodity cycles.

This piece was written by Ayo Teriba. The views and opinions expressed here are those of the author and do not necessarily reflect the official policy or position of 360Nobs.com.

Weak commodity prices brought Nigeria’s growth to a very abrupt end and inflicted heavy bouts of devaluation to the naira. It should be noted that Nigeria’s growth would have been more resilient if the country had a better rail transport and energy infrastructure that would have underpinned higher value addition in industry.

Both the recession and devaluation resulted from the foreign exchange shortage inflicted by the collapse in Nigeria’s annual exports receipts from about US$100 billion up till 2014, to less than US$50 billion since 2015, because of the fall in oil price.

Nigeria’s dependence on export receipts as the sole source of external financing made the country more vulnerable than countries who receive large diaspora remittances and large foreign direct investment (FDI) inflows, in addition to export revenue.

A major learning point for Nigeria is that larger capital inflows would have made the oil price fall less hurtful. Global trade flows are slowing because of the global commodities supply glut, but global financial flows are growing because of the global liquidity glut created by leading central banks. Past Nigerian governments and the central Bank of Nigeria have been historically transfixed on external trade flows, while being largely oblivious of external capital flows.

Nigeria now needs to take steps that reflect the realisation that opportunities to grow exports are currently limited by the global commodity glut, while opportunities to grow capital inflows are more abundant, given the global liquidity glut.

There is an urgent need to increase the global rank of Nigeria as an investment destination now that the global liquidity glut presents the opportunity to do so. The inward FDI stock of US$20 billion in China was just about twice as large as Nigeria’s US$8.538 billion in 1990. China now hosts a US$1.1 trillion FDI stock compared to Nigeria’s paltry US$89 billion.

India hosted a measly US$1.656 billion FDI stock in 1990, just about a sixth of Nigeria’s stock at the time, but now hosts nearly US$300 billion, more than three times as large as Nigeria’s stock today. Both South Africa and UAE have, like India, come from behind to now host more FDI than Nigeria. India and China had each received remittances of about US$22 billion in 2005, compared with Nigeria’s US$15 billion.

That margin of US$7 billion in 2005 has widened to US$50 billion in 2015, as India received US$70 billion and China received US$68 billion, compared with Nigeria’s US$20 billion. Both countries’ growth, stability and export successes depend on their successes in attracting foreign capital inflows. India’s current account deficits are more than compensated for by capital account surpluses that are twice as large. Trade reforms, such as export promotion or import substitution, take five years or much more to yield results.

In contrast, foreign investment reforms, such as Eurobond issuance, the diaspora bond 1 FDI figures, are from UNCTAD’s 2016 World Investment Report, while remittances figures are from World Bank’s online remittances database. Issuance, brownfield/greenfield foreign direct investment inflows into infrastructure sectors that are currently under government monopoly, begin to yield results within a year.

Nigeria’s experiences with FDI inflows into the telecoms sector and the recent US$1 billion Eurobond issue show that capital can flow in shortly after necessary steps are taken.

Sectors: Farms, Factories, Cities – Where Is the Money?

Nigeria’s nominal GDP stood at N101 trillion in 2016. This was made up of N64.9 trillion or 64 percent in services; N21.5 trillion or 21 percent in agriculture; N5.5 trillion or five percent in oil; and N9.7 trillion or 9.5 percent in non-oil industry (manufacturing, solid minerals and utilities).

Thus, services now supply nearly two-thirds of economic activities, agriculture supplies one-fifth, non-oil industry supplies one-tenth and oil supplies one-twentieth. The nominal GDP increased by N7.45 trillion in 2016. This came from the increase of N6.14 trillion or 82 percent in services, N1.89 trillion or 25 percent in agriculture, -N500 billion or -6.9 percent in oil, and -N60 billion or -0.78 percent in the non-oil industry.

Thus, services supplied most of the growth, with agriculture playing a supporting role, while oil and non-oil industrial activities declined. Nigeria’s cities supply most of the growth, with the farms playing a supportive role, while the factories are in decline because of foreign exchange shortage and infrastructure decay. Most inward foreign direct investment in Nigeria currently end up in the telecoms, oil and gas, and banking sectors.

The government urgently needs to open other sectors that have huge potentials to attract and retain large investments, such as rail transportation and energy (including power transmission, gas, and petrol).

The federal government must take immediate steps to open these sectors for large foreign equity investments, as was done in telecoms, oild an gas and banking. Nigeria’s sectoral strengths include:

  • Agriculture (21 percent of GDP in 2016);
  • Crude oil extraction (5.5 percent of GDP);
  • Services (64 percent of GDP), especially trade, telecoms, real estate and professional services.

Nigeria’s sectoral weaknesses or the missing middle include:

  • Mining (weak in extracting abundant mineral resources), and must import minerals;
  • Manufacturing (weak in processing agricultural, minerals and crude oil resources), and therefore imports processed food, raw materials, intermediate goods (especially chemicals), fuel, minerals and finished manufactured items (especially machinery, electronics, and automobiles);
  • Utilities (weak in distribution of abundant gas resources for domestic and industrial use) we flare or reinject the gas, weak in the generation, transmission and distribution of electricity, weak in the purification and distribution of water;
  • Transportation (weak road, rail, water, and air transportation, especially weak in rail). Weaknesses in transportation and utilities make manufacturing and mining uncompetitive, and hinder a big fraction of agricultural out from leaving the farm.

Nigeria first needs to ensure that inputs and output can get to and leave factories and farms at the least possible costs, and ensure steady supply of electricity, gas, petrol, and water, before talking about treating agriculture, mining or manufacturing as priorities.

States: Sectoral and Fiscal Strengths – Where In Nigeria?

There is always the pressing need to demonstrate where in Nigeria can the largest growth and investment opportunities be found by investors, and where in Nigeria would government officials and development partners find the biggest opportunities for making things better.

A breakdown of national GDP and sectoral aggregates across the 36 States and the FCT provides such insights. Sectoral activity continues to be regionally concentrated in a few states, to the exclusion of most states. Three states account for 66.64 percent of the huge service sector output. Eight States account for 75.84 percent of the agricultural sector output. Six states account for 84.68 percent of non-oil industry output. Nine states produce oil, but 89 percent of it comes from four states.

Rebuilding rail transportation and energy infrastructure across the country will reduce sectoral concentration and make growth more regionally inclusive. About half of the states are dependent on services, up to 90 percent in some cases, while about one-third of the states are dependent on agriculture, up to 80 percent in some cases. States must therefore either concentrate on creating more wealth in services, such as making cities more competitive, as Lagos is already doing, and/or concentrate on creating more wealth in agriculture, by making farms more competitive, until infrastructure that must underpin wealth creation in industry are rebuilt to permit the option of creating more wealth in industry.

The continued growth of the services and agriculture sectors in 2016 meant that states with relatively large shares of services and agriculture were insulated from the nominal contraction in economic activity, which was confined to industry (both oil and non-oil). Thus, economic and fiscal conditions deteriorated markedly across states with relatively large shares of industry and relatively small shares of services or agriculture. States received N2.859 trillion in total revenue in 2015, which was N1.05 trillion less than the 3.905 trillion they had received in 2013.

The fall in the revenue of states came from the slump in statutory allocation by N620 billion from 2.1 trillion in 2013 to 1.48 trillion in 2015, and the collapse in excess crude allocations from N560 billion in 2013 to N5.8 billion in 2015. While central allocations to states declined, internally generated revenues increased by N99 billion from N657 billion in 2013 to N756 billion in 2015, and value added tax receipts stayed just about the same over the two years at N381 billion in 2015, down by only N8 billion from N389 billion in 2013.

The statutory allocations of N1.48 trillion was 51.86 percent of the states’ total revenue in 2015; IGR of N756 billion was 26.4 percent, VAT of 381 billion was 13.3 percent, and other revenues of N239 billion were 8.4 percent. While states got an average of 51.86 percent of their total revenues from central allocations in 2015, three of the states – Lagos, Enugu, and Ogun – relied much less on the federation account, with statutory allocation respectively providing just 10, 30 and 34 percent of their total revenues, while internally generated revenue supplied 68.62, 53.13 and 50.13 percent of total receipts, respectively.

Those were the only three states who received considerably less revenue from the centre than they raised from within. 16 states (including the FCT) got between 45 and 59 percent of their funding from the centre, while the remaining 18 states depended on the centre for 60 to 80 percent of their total receipts. Many of the states with the highest IGR/total revenue ratios are service-led. The continued growth of the service sector offered fiscal resilience, and services are easier sources of revenue for states than agriculture or industry. Many of the states with the lowest IGR/total revenue ratios are agriculture-led, suggesting that states need to learn how to generate internal revenue from their agricultural sectors.

Poilcy: Macroeconomic Policies and the Economic Recovery and Growth Plan

The cyclical downturn of 2016 tested the countercyclical policy capability of the Nigerian government and revealed weaknesses in both fiscal and monetary responses. Apart from growth and stability, the other cyclical casualty was government revenue. It declined with the slump in oil price, constraining government’s ability to provide counter-cyclical fiscal stimulus in the face of the recession.

The Central Bank also found reasons not to provide any counter-cyclical monetary stimulus, pro-cyclically hiking rates twice in 2016, and just standing aloof, watching, and holding on to all policy instruments on the other four occasions that the Monetary Policy Committee (MPC) met. Nigeria has now put together an Economic Recovery and Growth Plan 2017-2020 (ERGP).

The plan however blurs the line between what the government had intended to do before the recession and devaluation blew it all out of track, and an urgent crisis response package that is required to confront the recession and devaluation and lift Nigeria out of the crisis.

The projections in the plan do not include any action steps or any likely dates that such steps will be taken. The plan is also not backed by any legislation. Nigeria needs a swift action plan that is backed with appropriate legislation, and it might have been better to separate the crisis response package from the broader economic plans of the government, so that the crisis response efforts can receive required urgency.

At a minimum, the following actions must be included in Nigeria’s crisis response package: First, Nigeria needs to reduce dependence on exports by opening to diaspora and FDI inflows, especially into government coffers, or into infrastructure activities that are currently under government monopoly. Currently, most of the non-export external resource inflows into Nigeria are small and stagnant private-to-private flows. Diaspora remittances flow entirely to private recipients, and are on the current account.

Some developing countries have successfully created parallel private-to-government streams of remittances on the capital account by issuing large multiyear diaspora bonds. Also, some governments succeed in getting private-to-government FDI inflows by allowing investors to have a growing stake in infrastructure services that were previously under government monopoly. Nigeria urgently needs to join the fray, and a credible plan must commit to specific steps that will be taken to make these happen, and commit to specific dates that the steps will be taken.

Second, Nigeria needs to rebuild rail transportation and energy infrastructure nationwide to make agriculture, manufacturing and mining more competitive. Services currently boom in Nigeria, and is growing as a share of GDP, in the face of stagnation in the share of agriculture in GDP, and a decline in the share of oil and non-oil industry in GDP. Rebuilding rail transport and energy infrastructure through increased foreign investment ought to be the number one priority of Nigeria today.

Third, government should break its own monopoly in all infrastructure sectors, especially rail transportation and pipelines, power transmission, health and education, and give foreign investors a larger role in funding and managing the sectors as we have beneficially done in oil.

The Economic Recovery and Growth Plan (ERGP) is based on the Strategic Implementation Plan (SIP) that codified government’s intentions ahead of the crisis, and such embodies little or no crisis responses. Immediate steps must therefore be taken to repeal monopoly laws across infrastructure sectors.

Outlook: Cycles vs. Policies – 2016 Was Lost To A Cyclical Downturn

Policies lost to cycles in 2016 as there were no counter-cyclical fiscal or monetary policy responses to the recession and devaluation. Despite a lot of public debate about stemming the slide, and several public acknowledgements of the government’s desire to intervene, long response-lag meant economic conditions deteriorated throughout the year. Real GDP declined in all the four quarters, the naira weakened throughout the year despite administrative efforts and executive orders by the Central Bank aimed at obstructing legitimate foreign exchange transactions, and inflation soared.

The cyclical tide is turning upward in 2017 despite the constraints on policy responses in 2016. Cycles are now on the upturn in 2017, and the recession, inflation and weakness of the naira are most likely to fizzle out. Oil price has risen from a low of US$28 per barrel in the first quarter of 2016 to US$55 in the first quarter of 2017, external reserves have risen steadily for six months to climbed above US$30 billion by March 2017, after reaching a low of US$23.9 billion in October 2016.

The oil price is likely to average about $55 in 2017. Government also expects oil production to be stable at 2.2 million barrels per day in 2017, as expressed in the federal budget proposals. The outlook for growth, inflation and exchange rate is brightened by this. The parallel market rate is beginning to appreciate in response to improvements in the central bank’s capacity to supply foreign exchange, with the parallel market rate rising to N380/US$ in March 2015, after touching an all-time low of 520/US$ the month before.

If the oil price holds up at the current level and external reserves continue to grow, the parallel market rate will continue to appreciate until it converges with the inter-bank rate. Both rates started to diverge after external reserves dropped below US$36 billion in November 2014, forcing the CBN to close its Wholesale Dutch Auction (WDAS) window and devalued the interbank rate from N150/US$ to N197/US$ by February 2015, only for the parallel market premium to widen steadily as falling reserves signalled weakness of the CBN to meet demand. CBN was forced to devalue the interbank rate again in June 2016, but premium continued to widen to signal unease.

Between the two devaluations of the inter-bank rate, CBN introduced a lot of obstructionist policies to suppress demand, like forcing recipients of inward remittances to receive their funds in naira at the controlled inter-bank exchange rate, restricting foreign currency transactions on accounts held with Nigerian banks, and publishing an infamous list of 41 import items that would not be funded by CBN. Such demand restrictions amplified the cyclical downswing and triggered the recession. A better response would have been for the CBN to look beyond the current account and boost foreign exchange inflows on the capital account to counter the downswing.

The problem was the sharp drop in foreign exchange supply that a fall in oil price from US$110 per barrel in 2014, to US$53 in 2015, and US$28 in the first quarter of 2016 implied. Boosting supply would have been a better way to stabilise the market than restricting demand to amplify the downswing, or attempting to float the exchange rate in the face of the supply shortfall as the CBN did.

Now that the external reserves are rising, the Central Bank is beginning to drop some of its administrative restrictions and is likely to continue to do so once reserves keep rising, until we get back to a threshold of US$36 billion in external reserves when a stable supply can be assured, and the rates in the markets will converge. The Central Bank can be trusted to drop it list of prohibited items as we approach that point. Seeing external reserves above the US$36 billion threshold could even mean a reopening of the WDAS window of the Central Bank.

The CBN should not be tossed up and down by cyclical swings. From less than 10 percent in January 2016, year-on-year inflation rate rose sharply between February and May 2016, because of devaluation and other costs shocks like the upward adjustments in electricity tariffs and pump prices of petroleum products, but kept rising alarmingly towards 19 percent by January 2016, because of low base effects.

Expectedly, it should decline as sharply as it rose from February, as already happened, through May 2017, as the base effects get corrected. While the recession had intensified between the first and third quarters of 2016, it abated in the fourth quarter, and should abate further in the first quarter of 2017, if not end altogether, paving the way for a resumption of growth from the second quarter of 2017.

Policies can still brighten the outlook further. The economy already is on the upturn, even in the absence of counter-cyclical fiscal, monetary, or investment policy responses. The outlook for 2017 is now brighter than the contractions of 2016 for purely cyclical reasons. During 2017, most economic variables, real growth, inflation and exchange rate, can be expected to improve towards conditions prevalent in 2015 when inflation was just below 10 percent, real growth was just below three percent, and the naira exchange rate was about N200/US$. The bright outlook could be threatened by any adverse shock to oil price or oil production.

Both fell in 2016 to inflict the hardships faced that year. The outlook in 2017 is better because both have recovered to levels last seen in 20156. The brighter outlook will be premised on both holding up throughout 2017. But it is reasonable to expect that they would. If they do, Nigeria can expect a resumption of growth, a moderation of inflation, a return of stability to the foreign exchange market, a convergence of exchange rates, and a sustained strengthening of the inter-bank rate.

Nigeria’s recovery in 2017 is currently premised on luck, cyclical upturn, rather than hard work, countercyclical policies or economic reforms. Assuring the sustenance of the recovery will require more than luck. Policies would be required to open Nigeria up for investment inflows that will rebuild rail transportation and energy infrastructure now, and create much needed external reserve buffers that would help Nigeria withstand future cyclical swings.

Ayo Teriba is CEO of Economic Associates; Email: ayo.teriba@econassociates.com

This piece was written by Ayo Teriba. The views and opinions expressed here are those of the author and do not necessarily reflect the official policy or position of 360Nobs.com.

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Frustrated Fan Pens Extremely Emotional Open Letter To Dremo

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Dear Dremo,
I know you probably hear this every day, but I’m your biggest fan, I haven’t heard a thing or two from you. Guess the richer, the poorer. Account fat now, you poor on content. Thought you were the truth, was hoping you would change up the game as OBO said you would, guess he told a lie on you. I saw you made the Artiste to Watch on tooXclusive, MTV Base, NotJustOk and other lists. Top 10 list my ass. I can relate to what you’re saying in your songs.
So when I have a shitty day, I drift away anticipating the making of the best Afro-Trap MC. But It’s kind of fucked up you’re letting the fame get to your head. What is stopping you from dropping a single? Heard your freestyle on ‘Dat way’ and ‘Bigger meat’. We want the real deal. It’s pretty fucked up man. You are like the guy who could save another talented guy from the streets. But didn’t. Indulging the complacency mindset, knowing that you’re good but being lazy. It’s crazy how creative you are. What happened to the fire burning on your inside just after the signing of your contract with songs like ‘back to back’, ‘ole’. ‘ojere’ and even ‘Normal level’? What happened to your creative posts on Snapchat? What happened to the songs we hear on snap chat?   What happened to Yakiru, Mr Talented? What happened to the YAK merchandise? What happened to Dremo?
You have had more than enough time to settle into the industry given the scarce opportunity to be under a huge platform. I hope you can’t sleep and you dream about where and how it all started. Only advise is, drop a hit song and that just might be your great come back.
Anyways, I hope you get this.
Your Biggest Fan!

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Yemi Alade Takes Over Paris, Ahead Of Her Concert At Le Trianon

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Africa’s music belle, Yemi Alade and her praised Ova Sabi band arrived Paris, France yesterday to kick off her “Mama Africa World Tour”.

The award winning diva starts the tour with a concert happening on the 7th of April, 2017 at Le Trianon. Ahead of the event, the “Taking Over Me” singer took over the city as she went sight seeing and embarked on a media tour, followed by a press conference where she dished to journalists what to expect when she fills up the venue come Friday.

Miss Alade also confirmed that she will be releasing her anticipated single “Charliee” on the same day and promised to deliver a performance like no other.

You can check out the pictures from Day 1 of the Paris stop of the #MamaAfrica world tour below.

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Borno Indigenes Storm N’Asembly, Protest Against Ndume’s Suspension

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Dozens of protesters, who were made up of Internally Displaced Persons and Borno State indigenes, on Tuesday, stormed the main gate of the National Assembly to protest against the suspension of former Majority Leader of the Senate, Senator Ali Ndume.

Over 200 persons, carrying placards and banners, on Tuesday morning stormed the national assembly complex to demand Ndume’s reinstatement.

Over 200 persons stormed the national assembly complex to demand Ndume’s reinstatement.

Ndume represents Borno south constituency.

Senate Suspends Ex-Leader Ali Ndume For 6 Months

The protesters, while decrying the suspension of Ndume, barricaded the entrance of the national assembly, saying the decision by the upper chamber was unfair.

Armed with placards and banners, the over 200 persons demanded Ndume’s reinstatement, adding that Borno South people have lost their voice with the suspension of the legislator.

Security operatives were forced to lock the gates of the national assembly after the protesters blocked the entrance.


The protesters lamented that Borno South people have lost their voice with the suspension of the lawmaker.

Last week, Ndume was suspended for six months for calling for investigations into forgery allegations made against the senate president, Bukola Saraki, and the certificate controversy surrounding Kogi senator, Dino Melaye.

Certificate Scandal: ABU Keeps Mum As Senator Melaye’s Case Gets Messier

While Saraki was accused of harassing Hameed Ali, comptroller-general of customs, because the agency seized a vehicle belonging to him, Melaye was said to have forged a certificate of his degree from the Ahmadu Bello University (ABU), Zaria.

The two lawmakers were eventually cleared by the senate committee on ethics and privileges.

However, the senate deemed Ndume’s action as embarrassing and suspended him based on the recommendation of the ethics committee.

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Borno Indigenes Storm N’Asembly, Protest Against Ndume’s Suspension

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Dozens of protesters, who were made up of Internally Displaced Persons and Borno State indigenes, on Tuesday, stormed the main gate of the National Assembly to protest against the suspension of former Majority Leader of the Senate, Senator Ali Ndume.

Over 200 persons, carrying placards and banners, on Tuesday morning stormed the national assembly complex to demand Ndume’s reinstatement.

Over 200 persons stormed the national assembly complex to demand Ndume’s reinstatement.

Ndume represents Borno south constituency.

Senate Suspends Ex-Leader Ali Ndume For 6 Months

The protesters, while decrying the suspension of Ndume, barricaded the entrance of the national assembly, saying the decision by the upper chamber was unfair.

Armed with placards and banners, the over 200 persons demanded Ndume’s reinstatement, adding that Borno South people have lost their voice with the suspension of the legislator.

Security operatives were forced to lock the gates of the national assembly after the protesters blocked the entrance.


The protesters lamented that Borno South people have lost their voice with the suspension of the lawmaker.

Last week, Ndume was suspended for six months for calling for investigations into forgery allegations made against the senate president, Bukola Saraki, and the certificate controversy surrounding Kogi senator, Dino Melaye.

Certificate Scandal: ABU Keeps Mum As Senator Melaye’s Case Gets Messier

While Saraki was accused of harassing Hameed Ali, comptroller-general of customs, because the agency seized a vehicle belonging to him, Melaye was said to have forged a certificate of his degree from the Ahmadu Bello University (ABU), Zaria.

The two lawmakers were eventually cleared by the senate committee on ethics and privileges.

However, the senate deemed Ndume’s action as embarrassing and suspended him based on the recommendation of the ethics committee.

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Peter Odemwingie signs For Indonesian Club Madura United

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Peter Odemwingie has signed for Indonesian side Madura United.

The 35-year-old has been without a club since leaving Rotherham in January, and was unveiled in Jakarta today.

“These are exciting times for Indonesian football and I’m happy to be a part of it,” he told BBC Sport.

“Hopefully I can roll back the years by scoring important goals for Madura.”

He becomes the third former English Premier League star to move to Indonesia after Michael Essien and Carlton Cole.

“I had no idea what it’s like here but I had a brief chat with Michael Essien and he gave me positive feedback,” Odemwingie explained.

“To be regarded as a marquee signing is huge – I’ve played in different European countries but this place is really beautiful – and the people are very friendly.

“I’ve scored goals at all the top clubs I played and I believe with the help of my teammates I can still do the same here.”

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Juventus Considering Bid For Chelsea Midfielder Nemanja Matic

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Juventus are considering making a bid to sign Chelsea midfielder Nemanja Matic this summer, according to Calciomercato.com.

It’s reported elsewhere that Antonio Conte is looking to strengthen his central midfield options.

Juventus reportedly tried to sign Matic last summer, but Chelsea rejected their advances. 

Matic, 28, has been a regular first-team star under Antonio Conte this term.

But the Italian might be tempted to cash in on Matic if Juve launch a bumper raid.

Since rejoining the club from Benfica in 2014, Matic has played 114 games for Chelsea and bagged three goals.

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Arsenal Eye £30m Bid For Juventus Defender Alex Sandro

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Arsenal are planning to offer €35m to Juventus to sign Alex Sandro,Tuttomercatoweb.com reports.

The Brazilian international’s future is under scrutiny and despite being contracted to Juve until 2020 is looking for a move away.

Manchester United and Manchester City have also been linked.

Juventus will not want to let their best left sided player go easily, and have already been recently considering a renewal for the former Porto man with an increased salary. This renewal is meant to ward off interest from Premier League and other high budget clubs.

After beating out Patrice Evra for the starting spot this season, Alex Sandro looks prepared to battle on both the Serie A and Champions League fronts for the Bianconeri.

The left-back moved to Juventus from Porto in 2015 for £22m.

He has made over 60 appearances for the club over the past two seasons, helping them to a league and cup double last term.

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Report: Lionel Messi ‘To Sign New Five-year Barcelona Contract Next Month’

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Lionel Messi will sign his new contract at Barcelona next month, reports Spanish radio show El Larguero.

The Argentinian’s current deal at the Camp Nou expires at the end of next season.

His contractual situation has prompted speculation over his future but that looks set to be quashed soon.

According to El Larguero, Jorge Messi, the forward’s father and agent, will travel to Barcelona in May to finalise the deal, which will extend the 29-year-old’s stay at the club until the summer of 2022.

Messi was not part of the Barcelona side that saw off Granada 4-1 on the week due to a suspension.

But recent reports suggested he will be in line to earn as much as £35million-a-year after putting pen to paper.

In February, Jorge fled the Spanish city after “no progress” had been made on talks.

But now it looks like Messi will be rolling in money – especially after signing a lifetime deal with boot-maker Adidas earlier this year.

And it is a relief for Barca, who have now tied down striker partners Neymar and Luis Suarez too in new deals.

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Sporting Lisbon Deny Any Agreement To Sell William Carvalho To Manchester City

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Sporting Lisbon have dismissed suggestions that they will sell Manchester City target William Carvalho for €30m.

The Portugal international, 24, has established himself as one of Europe’s most-coveted midfielders over the past few years.

City, Liverpool and Valencia, as well as a number of other European clubs, are believed to be on his trail but Sporting president Bruno de Carvalho insists any suitors will have to fork out significantly more than €30m to secure the anchorman’s services.

“Is Carvalho going to leave for €30m? For that price I send a boot without laces,” he is quoted as saying in AS.

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Nigerian Navy Releases List Of Successful Candidates For Direct Short Service Commission (DSSC) | Check Yours Here

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The Nigerian Navy said it had released the list of candidates who were successful in the aptitude test for the Direct Short Service Commission (DSSC) Course 24 held on Dec. 17, 2016.

According to a statement by the Navy spokesperson, Suleman Dahun, applicants are to check www.joinnigeriannavy.com or www.navy.mil.ng for their names.

Dahun said Successful candidates were to report at the NN Secondary School Ojo, Lagos State, for further screening commencing from April 10.

He said the exercise would involve the screening of academic certificates/credentials, medical test, physical fitness test, written and oral examinations.

Dahun also said candidates should come along with the Originals and photocopies of their academic certificates/credentials.

He said they were to also come with their Statement of Results, testimonial for Primary and Secondary Schools attended with scratch cards for verification of O’Level results.

“They should also come along with birth certificate/declaration of age, NYSC discharge/exemption certificate and four recent colour Passport Photographs.

“And three pairs of white (unmarked) vests and navy blue shorts, a pair of white canvas/trainers, two bed sheets and pillow cases, a set of cutleries and toiletries,” he said.

He said candidates who failed to report on the stated date stood to be disqualified.

“Please, note that the NN Direct Short Service Commission (DSSC) 24 Selection Board will only attend to candidates whose names appear on www.joinnigeriannavy.com or www.navy.mil.ng based on the DSSC guidelines,” Dahun said.

See Full List Below:

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15 Die In Fresh Farmers/Herdsmen Clashes In Benue

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At least 15 persons have been feared dead in fresh crisis between herdsmen and farmers in Turan communities in Kwande Local Government Area of Benue State.

This is even as the operatives of the State Police Command have claimed that two bodies had been recovered from the affected communities.

Vanguard Newspaper reports that the renewed crisis has led to the disappearance of many persons, while several houses, huts and farmlands have also been razed in the besieged communities.

Speaking on the incident, a resident of one of the affected communities disclosed that trouble started on Sunday morning after men suspected to be armed herdsmen invaded Ikyoawen, where four persons were reportedly killed and houses razed.

The resident continued: “After that attack, they moved into Nzaav and Alaba in Yaav council ward, where over 11 persons were hacked to death and several houses burnt down by the herdsmen.

“Though the affected communities have been deserted, we are still searching in the bushes for many missing persons, including women and children.

“We also realised that the attackers have occupied the sacked communities without resistance. As we speak, several of the houses are still on fire.”

Reacting to the incident, the National Coordinator of Miyetti Allah Cattle Breeders Association (MACBAN), Alhaji Garus Gololo, said he was not aware of the presence of herdsmen in the affected communities.

He said: “If anything is happening there, it would certainly be the handiwork of criminal elements, who are bent on frustrating the efforts of the government to ensure peaceful co-existence in the state.”

Also speaking, the Police Public Relations Officer, Moses Yamu, said:

“We heard that Alaba and Mande Ordue communities in Yaav council ward of Kwande council were under attack by suspected herdsmen.”

“Mobile policemen have been deployed to the area as two persons, including 65-year-old Keemo Anumen and 46-year-old Tervershima Dado, have so far been confirmed dead and their corpses deposited at the NKST morgue in Jato Aka.”

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CBN Injects $240 Million To Forex Market, Directs Cash Payments To FX Users

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The Central Bank of Nigeria (CBN) on Monday injected another $240 million into the nation’s foreign exchange market to meet the requests by bank customers and also to sustain Naira’s gains against the Dollar and other hard currencies.

Out of that amount, $90 million was meant to meet requests for invisibles such as BTA/PTA, medical and school fees, while the balance of $150 million was given to authorized FOREX dealers in the interbank wholesale auction window.

The Apex Bank also directed all banks to pay cash over-the-counter to desiring foreign exchange customers.

According to the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, the directive was issued to further ease the access of customers to foreign exchange.

Last week, the CBN had announced the adjustment of the bureax de change (BDC) sale days to Tuesdays only, to reduce logistical difficulties, while the apex bank would henceforth sell $10,000 only to low-end FOREX dealers once every week.

While urging the banks to oblige the genuine requests of customers, the spokesman advised customers to report any uncooperating bank to the CBN through available platforms.

The CBN spokesperson further said the bank was optimistic that latest $150 million offered to authorised FOREX dealers in the interbank wholesale window would be enough to meet the requests of genuine wholesale customers.

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FG Commences Online Registration Of Unemployed Nigerians Tomorrow

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The Federal Government will commence the online registration of unemployed Nigerians as from Wednesday, April 5, 2017.

This disclosure was conveyed in a statement issued by the Deputy Director, Information and Public Relations of the National Directorate of Employment (NDE), Edmund Onwuliri, to the News Agency of Nigeria (NAN), in Abuja on Monday.

Onwuliri said the registration was aimed at collecting up to date data of the unemployed Nigerians, adding that the registration was in compliance with NDE’s mandate “to obtain and maintain a data bank on unemployment and vacancies in the country.”

The deputy director also explained that the exercise would enable the directorate to serve as a clearing house linking job seekers with existing vacancies in government agencies and the private sector.

He said: “The online portal which goes live on Wednesday April 5, 2017, is designed to capture the relevant details of any unemployed person. It will equally serve as a job exchange portal that will link job seekers and employers.

“There will be a practical demonstration of the workings of the portal at the NDE stand at the ongoing 28th edition of the Enugu International Trade on Thursday”.

He gave the portal’s address as: www.jobsforall.ng.

“The directorate sees this initiative as a bold step toward deepening the effectiveness of its employment creation strategies and a critical input into the process of designing, implementing, monitoring and evaluating programmes and schemes.”

According to him, the online portal would henceforth serve as a meeting point for job seekers and their prospective employers.

Onwuliri further added that the initiative would go a long way to eliminate the cumbersome process of recruitment by employers of skilled labour in private and public sectors.

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NUPENG: Petroleum Workers Call Off Strike

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The National Union of Petroleum and Natural Gas Workers (NUPENG) has suspended its nationwide strike which began on Monday, April 2, 2017.

NUPENG: Fuel Crisis Looms As Tanker Drivers Begin Nationwide Strike Today

The suspension is coming on the heels of intervention by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru.

Speaking in a statement issued on Monday evening, the NNPC group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, quoted Baru as saying that the intervention was in the national interest.

Baru further approved the increase in bridging costs from N6.20 to N7.20.

Bridging is money paid tanker drivers per kilometre for trucking petroleum products from depots to final destinations.

‘Mediating between the Nigerian Association of Road Transport Owners, NARTO, and the Petroleum Tanker Drivers (PTD), Baru said ”we understand the difficulty of NARTO to go into negotiations which has to do with the level of bridging allowance.

”I am happy to announce that the Honourable Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has given his approval to increase the bridging allowance from N6.20 to N7.20”, Baru said in the statement.

He said the review should give NARTO the breathing space to engage with PTD to immediately discuss and resolve as many of the issues as possible, adding that the gesture was expected to normalise relations between the unions.

Baru explained that NNPC intervened in the face-off between the unions to ensure the energy security of the nation, adding that ordinarily the dispute was only between PTD and its employer, NARTO.

Also speaking on the suspension of the strike, the NUPENG National President, Mr Igwe Achese, said with the intervention of Kachikwu and Baru, NNPC ”has done so much to ensure efficient supply and distribution of petroleum products across the country, hence, the strike is hereby suspended”.

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UNN Makes History With The Launch Of Tech Hub

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The first ever full-fledged university embedded technology community in West Africa called ‘Roar Nigeria Hub’ has opened at the University of Nigeria, Nsukka.

The private sector driven initiative by two engineering graduates of the university, Charles Emembolu and Okechi Igwebuike is located on the school’s Nsukka campus which is within an hour drive from the Enugu capital city.

“The hub is on a mission to produce the next generation of entrepreneurs by providing an enabling environment, support systems and relevant skills to succeed with technology entrepreneurship across the South-East region while impacting the Information Technology ecosystem in Nigeria,” The initiators told reporters on Monday.

The Vice Chancellor of the University, Prof. Benjamin Ozumba, confirmed the hub on Monday, saying that he had always wanted to create an ecosystem that would fuel unprecedented technology growth in Africa.

He said, “However, we shall be having a public introduction of the Roar Nigeria on April 26, 2017 at the hub on University of Nigeria, Nsukka campus.”

Confirming the establishment of the Hub, Emem Seudieu, the University Advancement Centre Executive, said that Roar Nigeria Hub is a community that provides professional support to technology enabled startups, researchers, entrepreneurs and SME’s.

hub

Roar Nigeria Hub

“Their programs are designed to develop a new generation of innovators and creators that will provide local technology based solutions with a global perspective. The Hub is destined to be a hotbed of ideas, invention and market induced solutions created with the concept of a triple helix; an interaction between Academia, Industry and Government” She said.

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Ogun State To Build Museum In Honour Of Chief Ebenezer Obey

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According to the governor of Ogun State, Senator Ibikunle Amosun, his administration plans to build a museum in honour of juju music maestro, Evangelist Ebenezer Obey.

The governor made this announcement yesterday at the interdenominational church service held at the Chapel of Christ The Glorious King, inside the Olusegun Obasanjo Presidential Library in Abeokuta as the 75th birthday of the music icon was celebrated.

Amosun noted that Ebenezer Obey’s music taught totality of life and it has moved beyond Nigeria to the entire global community. Adding that when he traveled to the United States of America, he saw the works of the Ogun State-born musician displayed in a shop in New York. He said he never failed to listen to Obey’s music every morning before setting out for the office, because there was always a prayer or a philosophy, which could serve as driving force for the day.

“All I see in him at 75 is the awesomeness of God in his life. There is always something to learn from your music. I play Ebenezer Obey-Fabiyi’s music every morning”. “Your music teaches the totality of life, it teaches essence of life and living. Your music has moved beyond Nigeria to the global community. We will establish a museum where all your works will be kept for generations yet unborn to know about you and other legends from the state.” The Governor said.

Former President Olusegun Obasanjo who was also present at the celebration described the Juju and gospel music maestro, Chief Ebenezer Obey-Fabiyi as “a musician of international repute, a revered evangelist and businessman of note”. Obasanjo said whenever he was finding it difficult to sleep or while doing a serious work, he would have Obey-Fabiyi music playing slowly at the background.

Also present at the occasion were former Governor of Lagos State; Sen. Bola Ahmed Tinubu, Pastor E.A Adeboye of the Redeemed Christian Church of God, the Deputy National President, Pentecostal Fellowship of Nigeria; Bishop Wale Oke, King Sunny Ade, Evangelist Tope Alabi, Chief Olusegun Osoba, Otunba Gbenga Daniel, Speaker of the Ogun State House of Assembly; Suraj Adekunbi and his Lagos counterpart, Mudashiru Obasa, wife of Lagos State governor; Mrs Bolanle Ambode, Iyalode of Yorubaland; Alaba Lawson amongst others.

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