Obasanjo Declares Support For Buhari’s Second Term

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Obasanjo Declares Support For Buhari’s Second Term

Abraham Obasanjo, son of former President Olusegun Obasanjo, has declared his support for the re-election bid of President Muhammadu Buhari in 2019

Obasanjo’s son made this known in a letter he wrote to the Buhari Campaign Organisation on Wednesday.

The spokesman of the campaign, Festus Keyamo, acknowledge receipt of the letter and shared its contenet.

The letter read: “Dear Sir, please find attached a statement of my public declaration and support for the 2019 second term re-election bid of our highly esteemed President Buhari,” Obasanjo’s son wrote in a letter.

“I have taken a personal decision to release the statement and to notify you of my availability to work for the re-election of our dear President Muhammadu Buhari with sincerity and loyalty.

“Please accept my assurances of the highest regards.”

This is coming at a period of time when the ex-president has vehemently opposed to the reelection of Buhari.

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Gunmen Kidnap 16 Miners In Kaduna

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Gunmen Kidnap 16 Miners In Kaduna

The Kaduna Police Command on Wednesday, September 26, confirmed that 16 miners were abducted by armed bandits at Birnin Gwari Local Government Area of the state.

It is understood that the miners were returning from a mining site in a truck when they were intercepted by the gunmen in an incident that occurred at Pole Wire bush, close to Bogoma village of the troubled Birnin Gwari town.

Among those kidnapped, according to a statement signed by the state police spokesperson, Yakubu Sabo, was one Isa Tanimu.

He said the command has already deployed officers to track down the suspects. He said the suspects have started communicating with families of those abducted demanding ransom.

“We received an information that on 25/9/18 at about 1830hrs, bandits intercepted a truck in the bush of Pole Wire conveying local miners who were returning from site to Bogoma village.

“They kidnapped one Isa Tanimu and 15 others all of the same village. Teams of policemen have been dispatched to the scene alongside the command anti-kidnapping unit for surveillance with the view to rescue the victims and arrest the criminals. The latest information available is that a link has been established with them (kidnappers).

They have started demanding for ransom,” he said.

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Osun Rerun: Aregbesola Declares Tomorrow As Public Holiday

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Osun Rerun: Aregbesola Declares Tomorrow As Public Holiday

Governor Mr. Rauf Aregbesola of Osun State has declared tomorrow (Thursday) a work-free day to enable residents of the state to go out and vote in the rerun election holding in seven polling units.

US Agency Predicts Buhari’s Doom During 2019 Election

This is contained in a statement issued by the governor through his media aide, Mr Sola Fasure, in Osogbo on Wednesday, September 26.

The statement read, “The State Government of Osun has declared Thursday September 27, 2018 a public holiday throughout the state.

“This is to enable workers to participate in the rerun governorship election taking place in seven units in Ife-North, Ife-South, Orolu and Osogbo Local Government Areas of the State.”

The Peoples Democratic Party (PDP) secured the highest votes in the governorship poll which the Independent National Electoral Commission (INEC) declared inconclusive.

Osun State To Know Its New Governor On Thursday

 The candidate of the PDP, Ademola Adeleke polled 254,698 votes, 353 votes more than his closest rival, Gboyega Oyetola of the APC.

The margin was, however, less than the 3,498 votes in the polling units where voting was cancelled.

Buhari’s Supporter Who Trekked From Lagos To Abuja Dumps APC For PDP

Consequently, the Returning Officer for the election, Professor Joseph Afuape, declared the poll inconclusive.

Afuape said, “Unfortunately, as the Returning Officer, it is not possible to declare any party as the clear winner of this election at the first ballot … I hereby declare the result inconclusive.” with the rerun scheduled to hold on Thursday, September 27.

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Football Papers: All The Latest Football News And Transfer Gossips Today

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  • Paul Pogba has told Jose Mourinho that he wants to quit Manchester United as he tries to force through a move to Barcelona.
  • Leicester are fighting to keep hold of transfer guru Eduardo Macia, amid interest from Manchester United, AC Milan and Aston Villa.
  • Dan Ashworth is leaving his role as the FA’s director of elite development to become Brighton’s technical director.
  • Arsenal manager Unai Emery has hinted 18-year-old Reiss Nelson can be part of his first-team plans next season.
  • Amnesty International says Qatar is not paying World Cup stadium workers, with hundreds of people owed up to £4k.
  • Steven Caulker is training with Wigan ahead of a potential deal with the Championship club.
  • Tottenham manager Mauricio Pochettino says chairman Daniel Levy has assured him the club will be in the new stadium by Christmas.
  • Newcastle United’s former vice-president Tony Jimenez has denied Kevin Keegan’s claims that he told the club not to sign Luka Modric on the grounds he was “too lightweight”, and in turn claims Keegan rejected the chance to sign Karim Benzema and Daniel Sturridge.
  • Jurgen Klopp has warned Fabinho may not click at Liverpool for six months as the £40m midfielder prepares for his first start.
  • FIFA has taken initial steps towards trying to control the vast amount of money being paid out to football agents, agreeing in principle to discuss setting a limit on agents’ fees.
  • Jurgen Klopp has warned his Liverpool squad he will have a problem with any player who does not take the EFL Cup seriously.
  • Barcelona are set to make a January move for Paul Pogba after he was told by Jose Mourinho he will never captain Manchester United again.
  • FIFA are considering penalty shoot-outs in World Cup 2022 group games to stop draws.
  • Sheffield Wednesday and Aston Villa are targeting Gary Cahill in a shock swoop from Chelsea in January.
  • Ghana striker Richmond Boakye is wanted by Southampton as Mark Hughes eyes the former Chelsea target.
  • Sevilla will try and sign Brighton midfielder Davy Propper in January, according to reports.
  • Arsenal are preparing to make the first move in the race for Rennes wonder kid Ismaila Sarr.
  • Gary McAllister has revealed the Rangers squad ignored a day off on Monday to come in for extra training.

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Nigeria’s D’Tigress Beat Greece In Thrilling Match, To Face Defending Champions USA In Quarter Finals

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Nigeria have now qualified to meet defending champions United States in the FIBA Women’s World Cup quarterfinals following a thrilling 57-56 defeat of Greece on Wednesday.

Emmanuoela Fasoula led all scorers with 18 points, while Evelyn Akhator and Ezinne Kalu both scored 14 points to lead Nigeria. s and Atonye Nyingifa also reached in double figures as D’Tigress continued their impressive march in the competition.

Sarah Imovbioh, who started at center in place of the injured Amina Mohammed, won the jump ball but Akhator missed from midrange. However, D’Tigress showed what was to come as Ezinne Kalu sank a trey to open the scoring for the day.

Maria Fasoula scored for Greece, Imovbioh concerted a lay-up, before Akhator scored with a jumper and a pair of free throws either side of a Pinelopi Pavlopoulou shot to make it 9-4.

Both teams then kept it close and traded baskets until they tied at 13 each, before Nyingifa sank two free throws, and Eleana Christianki made a midrange shot with 45 seconds left to tie the scores at 15 all at the end of the first quarter.

Greece took the lead for the first time after just 13 seconds in the second quarter when Evanthia Maltsi sank a shot from range off, and Artemis Spanou and Maltsi extended their lead to seven points at 22-15 before D’Tigress went on a 5-0 run to make it 22-20.

D’Tigress went on another mini-run and temporarily took the lead at 25-24, before both teams exchanged buckets until D’Tigress closed the second quarter with a 5-0 run that gave Nigeria a 31-26 lead going into half-time.

Greece resumed the third quarter the same way they started the second as Fasoula converted a lay-up, but Nyingifa responded with a jump shot. Promise Amukamara made a jump shot and completed the three-point play as she was fouled on the shot to give D’Tigress a 36-28 lead with 1:57 played in the third quarter.

Maltsi sank a trey to make it 36-31, but Nigeria replicated their third quarter surge against Turkey, and went on a 8-0 run to stretch the lead to double figures at 44-31 and force Greece to call a timeout with 3:55 left in the quarter.

With Nigeria leading 48-36, the poor free throw shooting of the Greeks caught up with them as Fasoula missed two freebies. Christinaki returned to the line and sank one of two to bring the score to 48-37 and the end of the third quarter.

But it was the Greeks who started the final quarter the brighter of the two sides as Fasoula made two quick lay-ups and completed a three-point play after Kalu made one of two free throws to cut the Nigerian lead to five at 49-44.

The lead dwindled to just two points with 3:11 left to play, when Maltsi concerted a lay-up to bring the score to 51-49. Kalu got a steal and Nyingifa and Atonye made lay-ups to keep Nigeria in front, but Artemis Spanou scored four points on a lay-up and a jump shot to keep the Greeks alive, trailing by just two points at 55-53.

Styliani Kaltsidou missed the chance to tie the game with just under a minute left as she made one of two throws to bring the score to 55-54. But the Greeks came good on the line at the right time, as Kaltsidou made both free throws to give Greece the lead for the first time in the fourth quarter at 56-55 with 20 seconds left.

But Elo Edeferioka responded with two free throws of her own to put D’Tigress back in control at 57-56. Then Ezinne Kalu missed the chance to put the game away with two missed free throws, but there was no time left for Greece to run any offence. The quarter-final between Nigeria and the United States will be played on Friday.

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Phil Foden Happy To Score His First Manchester City Goal

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Manchester City midfielder Phil Foden has admitted that scoring his first goal for the club was ‘a special moment’.

Phil Foden got on the scoresheet for the first time in his Manchester City career during the 3-0 victory over Oxford United in the EFL Cup.

The teenager has come through the academy system at the club

Foden told City’s official website: “It’s hard to put into words – it hasn’t fully sunk in. I’ve dreamed of this moment, growing up as a City supporter.

“My first goal is special to me and I’m happy to have helped the team to get the win. Mostly, when I was dreaming (about scoring for City), it was in the Premier League but in any competition, it’s special to get your first goal.”

Manchester City manager Guardiola was delighted with Foden’s performance against the League One outfit, but was quick to play down comparisons to Barcelona legend Andres Iniesta.

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Roman Abramovich Lawyer Denies Money Laundering Reports

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Roman Abramovich’s lawyer has insisted any suggestion that the Chelsea owner has been involved in money laundering or has contacts with criminal organisations is “entirely false” after it was reported that he was denied residency in Switzerland in 2016 amid allegations of both.

Roman Abramovich applied to live near the ski resort of Verbier, but the country’s federal police (Fedpol) advised immigration officials to reject the application on the grounds that he represented a threat to public security and the country’s reputation, documents seen by media company Tamedia show.

The Zurich company fought an 18-month legal battle to publish the documents.

Abramovich — who has never been indicted in Switzerland or anywhere else — has denied the allegations, and lawyer Daniel Glasl indicated that he would file a criminal complaint.

“We are extremely disappointed by the release and publication of confidential information from Swiss government files regarding Mr Abramovich, which occurred in clear violation of Swiss criminal law and Swiss data protection laws,” Glasl said in a statement

“We have filed a request for correction of facts to the Swiss Federal Police and will be filing a criminal complaint against unknown persons responsible for dissemination of this confidential information.

“Any suggestion that Mr Abramovich has been involved in money-laundering or has contacts with criminal organisations is entirely false.”

Abramovich withdrew his residency application in June last year when he was informed that it was due to be rejected. His legal team wrote to Fedpol in November to demand a correction but the request was turned down.

A tribunal in Zurich issued an order preventing the press from publishing any details in February, but the order was overturned on appeal and on Friday a federal court ruled in favour of Tamedia’s right to report on the background of the case.

The private Fedpol documents show that a “suspicion of money-laundering” and “contacts to criminal organisations” were at the centre of police objections to Abramovich’s application.

“Mr Abramovich has never been charged with participating in money-laundering and does not have a criminal record,” Glasl said.

“He has never had, or been alleged to have, connections with criminal organisations. Fedpol has failed to provide any evidence of criminality whatsoever.

“Mr Abramovich has submitted to numerous thorough background checks by governments and business partners over the years, and such unsubstantiated allegations have never been at issue.”

SOURCE

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Germany Coach Joachim Low Barred From Meeting Mesut Ozil At Arsenal’s Training

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Germany boss Joachim Low and general manager Oliver Bierhoff were barred from Arsenal training center as they tried to make contact with Mesut Ozil,according to German newspaper Bild

Both Low and Bierhoff attended FIFA’s The Best awards in London at the weekend and had hoped to talk to Mesut Ozil who retired from the German national team in July and cited racism in the German FA.

Last month, Low said he had tried to make contact with Ozil but his calls were not returned.

Having informed Arsenal of their visit, Low and Bierhoff had hoped to meet with Ozil at the Colney training ground on Monday, but Bild reported that they were not allowed to attend “at the behest of Arsenal coach Umai Emery.”

Bierhoff said: “We would have loved to talk to Mesut. But we must accept that currently he does not want that talk.”

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Harry Kane Needs To Rest – Mido

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Former Tottenham and England striker Mido has called on manager Mauricio Pochettino to give Harry Kane a rest

Harry Kane has started the season with three goals and one assist from seven matches in all competitions

Pochettino has persisted with selecting Kane in the starting lineup, but Mido has suggested that the Argentine should hand his key man a rest of seven to 10 days.

The 35-year-old told Sky Sports News: “I think he needs a rest. I remember five or six years ago, maybe a bit more, Wayne Rooney came after the World Cup and he looked a little bit fatigued and tired, so Sir Alex Ferguson decided to give him a vacation for a couple of weeks. He came back a different player.

“I know that it is difficult for Tottenham because there is no other striker who can provide the same service as Harry Kane does but if I was in the place of Pochettino, I would look at when is the best time to give him a good week or 10 days.

“He looks tired. England reached the semi-finals of the World Cup, it has been a long summer, not easy mentally, a lot of stress, and to come back in and get ready for pre-season and ready for the new season with all of the pressure again straightaway, it is not easy.”

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Jordan Pickford Signs New Six-year Contract With Everton

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Jordan Pickford has signed a new six-year contract at with Everton Football Vki.

Everton signed Jordan Pickford from Sunderland and he has gone on to establish himself as the first choice for both his club and country England.

The 24-year-old told the club’s official website: “When I made the move last year I thought Everton would be a great club to come to and the right step in my career.

“Getting the opportunity to become England’s No. 1 was down to being at Everton, I believe, and being able to put in solid performances week in and week out.

“Coming to Everton, a massive club with a massive history and seeing how passionate and determined the fans are, it’s inspired me to perform week in and week out and it’s moved my career on, without question. I want to play as many games as I can for the club, that’s my goal now.”

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Football Papers: All The Latest Football News And Transfer Gossips This Evening

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LONDON EVENING STANDARD

Declan Rice has turned down a deal at West Ham that would have seen him collect £20,000 every time he started a Premier League game.
Jurgen Klopp has refused to be drawn on suggestions Liverpool are considering a move for Borussia Dortmund forward Mario Gotze.

MANCHESTER EVENING NEWS
Phil Foden is in full support of Pep Guardiola’s plan for him to break through at Manchester City.

LIVERPOOL ECHO
Jurgen Klopp has revealed Fabinho’s continued absence from the Liverpool first team is due to a necessary period of adaptation to his footballing philosophy.

NEWCASTLE CHRONICLE
Former Newcastle defender Jesus Gamez has claimed that Rafa Benitez “didn’t contribute anything” to him during his two years at Newcastle.

BIRMINGHAM MAIL
Former Aston Villa striker Stefan Moore has joined Evo-Stik Southern League Central side Tamworth.

EXPRESS & STAR
Morgan Ferrier says his move to Walsall is allowing him to become the player and person he wants to be.

THE SENTINEL
Gary Rowett insists both Ryan Shawcross and Moritz Bauer still have a future at Stoke City – and he says his captain deserves more respect than some fans have shown.

BOURNEMOUTH ECHO
Eddie Howe has confirmed Bournemouth defender Charlie Daniels was on “on his way back” from an ongoing knee problem.

LEICESTER MERCURY
Claude Puel has revealed Caglar Soyuncu is yet to make his Leicester City debut because the centre-back’s lack of English is making it difficult to communicate with his team-mates.
Puel hailed hero goalkeeper Danny Ward after Leicester beat Wolves on penalties in the Carabao Cup and joked he was recruited for his brilliant record in shootouts.

THE ARGUS
Florin Andone could get his first minutes in the Premier League for Brighton against Manchester City this weekend.

YORKSHIRE EVENING POST
Izzy Brown has admitted he is desperate to get his Leeds career going, vowing to return “before anyone knows it” as he continues his recovery from ACL surgery.

NOTTINGHAM POST
Sporting director Luke Dowling has left Nottingham Forest.

LANCASHIRE TELEGRAPH
Tony Mowbray feels Jack Rodwell will become a “big asset” for Blackburn after making his debut in the Carabao Cup defeat to Bournemouth.

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Nas And 50 Cent’s Baby Mamas Reportedly Working On Reality Show

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Nas And 50 Cent’s Baby Mamas Reportedly Working On Reality Show

There are strong indications that Nas’s baby mama Carmen Bryan has already announced plans that will see her team up with 50 Cent’s baby mother, Shaniqua Thompson, to film a reality show.

WATCH: Lil Wayne Finally Announces Release Date For “Tha Carter V” Album

 Nas And 50 Cent's Baby Mamas Reportedly Working On Reality ShowAccording to The Shade Room, the show will follow Carmen and Shaniqua as well as other women living in Los Angeles and New York and will document “urban women in business empowering one another.”

“Shaniqua Tompkins and I are working on a reality show, and I’m not allowed to share the title yet, but it will be filmed in New York and Los Angeles. We will have a few other ladies participating in the show, and basically, it’s a show based on urban women in business empowering one another.”

“There will be no wig snatching and wine throwing – we’re trying to put a spin on black excellence showing women in an organic environment that can come together, inspire one another, work on their brands and their businesses, and if there is any tension or disagreements, it’s organic, it’s resolved, and we move on to the next aspect of the program,” Carmen said.

“Just basically showing our lives, our children, our family, and again, trying to create a new spin on reality television. Showing black women in a better light.”

The show’s title and the premiere date has yet to be revealed, keep it locked on the site for more details. 

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WATCH: Lil Wayne Finally Announces Release Date For “Tha Carter V” Album

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Lil Wayne Finally Announces Release Date For “Tha Carter V” Album

Legendary rapper, Lil Wayne, has revealed the release date for his long-awaited album “Tha Carter V,” after keeping fans waiting for years.

Lil Wayne Becomes Sole Owner Of Cash Money 

The multiple Grammy awards winning rapper who had earlier promised that he had a “special surprise” for fans at 5 p.m. on Sept. 25, released a three-minute video clip to discuss the album.

At 5 p.m. sharp, Weezy shared a link to his website, which features a countdown to when the album will finally release. From the looks of things, Tha Carter V will be releasing on September 27 at midnight while the album cover has changed from what he teased weeks ago.

In the released video posted to his social media accounts, Wayne addressed his fans directly.

He said: “I heard there was a misunderstanding about the release date of the C 5. I heard yall got mixed up and thought it was gonna get release like last week or something. Well, I would like for you to know that since y’all stuck with me and hung in there anyway for like the past four or five years through all of this but uh on my birthday, I actually have something special. I will be releasing Tha Carter V on my birthday.” (Lil Wayne’s birthday is September 27.)

The superstar entertainer goes on to thank fans for their support through the years.

“Every ounce of anything I have left in my heart, it goes to y’all. Honestly, my fans, the supporters, the world. Of course, it’s my family and God first, and I am nothing, absolutely nothing without my fans,” he said.

Watch video below:

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Leah Sharibu’s Mom Sues Nigerian Govt, Demands N500m

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Leah Sharibu’s Mom Sues Nigerian Govt, Demands N500m

The mother of Leah Sharibu, the only abducted Dapchi schoolgirl still in the captivity of Boko Haram insurgents, Rebecca Sharibu, has filed a suit of N500 million against the Nigerian government over what she termed dereliction of their statutory duties in securing her daughter’s release.

Boko Haram Murders Nurse, Threatens To Kill Leah Sharibu 

The suit was filed specifically against the Inspector-General of Police, Ibrahim Idris and the Attorney-General of the Federation, Abubakar Malami.

In the suit filed at the federal high court in Lagos, Rebecca sought N500 damages over the government’s “dereliction of duties”.

The suit was jointly filed with Daniel David Kadzai and Lift-Up-Now Incorporation, a US-based organisation.

A copy of the suit dated September 19, 2018, with no FCH/L/cs/1528/18, was made available to journalists on Tuesday.

Leah Sharibu Reportedly Begs Buhari To Rescue Her

Among the prayers the plaintiff sought from the court is an order “directing and mandating the defendants to secure the immediate and unconditional release of the plaintiff from the custody of her captors forthwith”.

The plaintiff is also seeking “an order compelling the defendants to employ every means in securing the plaintiff from the custody of her captors; an order compelling the defendants to pay the plaintiff the sum of N500 million being compensation for the indignities and human deprivations suffered by the plaintiff as a result of the defendants’ dereliction of statutory duties in securing her release from her captors since the month of February, 2018 till date of this action”.

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US Agency Predicts Buhari’s Doom During 2019 Election

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US Agency Predicts Buhari’s Doom During 2019 Election

A United State based analysis agency, Teneo Intelligence, has predicted that Nigeria’s President Muhammadu Buhari could lose the 2019 election if the opposition People’s Democratic Party (PDP) stays united.

Osun State To Know Its New Governor On Thursday

In his analysis of the outcome of the recent Osun state gubernatorial election, Malte Liewerscheidt, the company’s vice president, who also covers political risks in West Africa, was quoted to have said what occurred during the poll was a bad signal for the ruling party and signals its waning popularity.

“There is already a clear message sent from Osun State: provided the PDP remains united, and the vote is reasonably free and fair, Buhari and his APC are likely to lose the general elections,” Bloomberg quoted Liewerscheidt as saying.

The Peoples Democratic Party (PDP) secured the highest votes in the governorship poll which the Independent National Electoral Commission (INEC) declared inconclusive.

 The candidate of the PDP, Ademola Adeleke polled 254,698 votes, 353 votes more than his closest rival, Gboyega Oyetola of the APC.

The margin was, however, less than the 3,498 votes in the polling units where voting was cancelled.

Buhari’s Supporter Who Trekked From Lagos To Abuja Dumps APC For PDP

Consequently, the Returning Officer for the election, Professor Joseph Afuape, declared the poll inconclusive.

Afuape said, “Unfortunately, as the Returning Officer, it is not possible to declare any party as the clear winner of this election at the first ballot … I hereby declare the result inconclusive.” with the rerun scheduled to hold on Thursday, September 27.

The election is significant as it is the last major election before the 2019 general election and it will be recalled that Osun is one of the key southwest states that played a pivotal role in Buhari’s victory in 2015.

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Housewife Kills 8-Month-Old Stepdaughter With ‘Otapiapia’

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Housewife Kills 8-Month-Old Stepdaughter With ‘Otapiapia’

A 20-year-old woman, Zulac Kabiru, has been arrested after she admitted to killing her eight-month-old stepdaughter, Rukaiya, to teach her co-wife how to respect “her superior” by giving her local insecticide, otapiapia, to drink.

Zulac, who was arrested by the police in Niger State for the alleged killing that occurred at Danauta village in Mariga Local Government Area, said she took the action because the second wife was always insulting and assaulting her.

Speaking with newsmen when she was paraded, Zulac was said to have secretly given the baby the poison, which resulted in her death.

In her confessional statement, the suspect said; 

“I warned my husband to desist from getting another wife but he did not listen. The second wife loved insulting and assaulting me at all times. One day, I decided to poison her eight-month-old daughter to increase her sorrow in the family so that she will learn how to respect her superiors in the family.

“Before my husband married her, and I kicked against it, we were living in peace. But when she came, she split the family. My husband gave her more attention than he gave me. And since then, our family has been in shambles.”

“It was the work of the devil. I don’t know when I did it. It is a wicked act.”

Police spokesman Muhammad Abubakar, a Deputy Superintendent of Police (DSP), said the suspect would be arraigned in court after investigation.

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CBN Explains Why Nigeria’s Economy May Slip Back Into Recession

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CBN Explains Why Nigeria’s Economy May Slip Back Into Recession

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) on Tuesday issued a warning that the weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat.

Speaking with newsmen shortly after the two-day meeting of the MPC members held at the headquarters of the apex bank, the CBN Governor, Mr Godwin Emefiele, said the economy had started showing signs of weakness.

Bear in mind that the Africa’s most populous nation’s economy exited recession in 2017 after suffering contraction for five consecutive quarters.

But the CBN governor stated that the committee was concerned that there was a fresh threat of recession as the economy recorded growth rate of 1.95 per cent and 1.5 per cent during the first and the second quarters of this year, respectively.

In his explanation, the apex bank’s governor disclosed that the slowdown emanated from the oil sector, with strong linkages to employment and growth.

For instance, Emefiele said the late implementation of the 2018 budget, weakening demand and consumer spending, rising contractor debts, and low minimum wage were some of the risks to output growth.

Others, according to him, are the impact of flooding on agricultural output, continued security challenges in the North-East and North-Central zones, and growing level of sovereign debts.

His words: “The MPC observed that despite the underperformance of key monetary aggregates, headline inflation inched up to 11.23 per cent in August 2018 from 11.14 per cent in July 2018.

“The near time upside risks to inflation remain the dissipation of the base effect expected from 2019 election related spending, continued herdsmen attacks on farmers and episode of flooding, which destroyed farmlands and affected food supply ultimately.

“In this regard, the committee urges the fiscal authorities to sustain implementation of the 2018 budget to relieve the supply side growth constraints so that they can address the flooding, which has become perennial on a permanent basis.

“Relative stability has returned to the foreign exchange market buoyed by the robust external reserves, with inflation trending downward for the 18th consecutive month.”

“The gains so far achieved appeared to be under threat following the new data, which provides evidence of weakening fundamentals. The committee identified rise in inflation and pressure on the external reserves created by the capital flows reversals as the current challenges to growth.

“It noted that the underlying pressures have started rebuilding and capital flows reversals have intensified as shown by the bearish trend in the equities’ market even though the exchange rate remains very stable.

“The committee was concerned that the exit from recession may be under threat as the economy slid to 1.95 per cent and 1.5 per cent during the first and the second quarters of 2018, respectively.

“The committee noted that the slowdown emanated from the oil sector with strong linkages to employment and growth.”

On what could be done to stimulate economic activities, the CBN governor said that though growth remained weak, the effective implementation of the 2018 Federal Government budget and policies that would encourage credit delivery to the real sector of the economy might boost aggregate demand, stimulate economic activity and reduce unemployment in the country.

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JUST IN: Heavy Traffic As Tanker Falls, Spills Content On Lagos-Ibadan Expressway

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Heavy Traffic As Tanker Falls, Spills Content On Lagos-Ibadan Expressway

A petrol tanker was involved in an accident on the Lagos-Ibadan on Wednesday morning, causing heavy traffic.

It is understood that the tanker fell around Berger area, coming inwards from the Kara area of the expressway.

Although the vehicle has been evacuated, the oil spill is currently being flushed away to prevent another accident.

The development was brought to light by the Lagos State Traffic Management Authority (LASTMA), via its Twitter account:

It wrote: “The accidented trailer after Berger inw Kara. Heavy backlog now at Tollgate. Evacuation in progress by @lasemasocial while @followlastma also on ground. Patience required. Use alternative routes if you can. @trafficbutter @TrafficChiefNG

“Vehicle finally evacuated, however, oil spill on the road is being flushed before road is opened to prevent any other accident. Please be patient.”

The post JUST IN: Heavy Traffic As Tanker Falls, Spills Content On Lagos-Ibadan Expressway appeared first on 360Nobs.com.

Source: New feed2