The Pension Fund Administrators (PFAs) in the country have invested N1.49 trillion in Treasury Bills.
The monthly report released by the National Pension Commission (PenCom) on Sunday in Abuja by Mr Peter Aghahowa, the commission’s spokesman made the disclosure.
The commission also disclosed that the PFAs invested N4.22 trillion in Federal Government’s bonds, Federal Mortgage Bank of Nigeria (FMBN) got N10.91 billion; Sukuk bonds, N53.15 billion; and green bonds, N6.96 billion.
“State government securities gulped N154.43 billion, while corporate bonds was N400.45 billion with corporate infrastructure bonds amounting to N7.33 billion, even as banks gulped N849.09 billion.
“Others include commercial papers, N116.76 billion and real estate properties, N226.64 billion and supranational bonds, N6.67 billion.
“Open and close end funds, N12.18 billion; mutual funds, N21.29 billion; private equity fund N38.57 billion; infrastructure fund, N16.07 billion; other assets N24.56 billion and Reits, N9.10 billion.” the commission said.
According to the commission, the total sum invested in Federal Government’s securities by PFAs stood at N5.78trn out of N8.33 trillion pension assets as at August.
“The investment represents 69.30 per cent of N8.33 trillion pension assets,” the commission said.
The commission, in the monthly report, also reclassified the pension assets according to the new structures, namely; 1, 11, 111 and 1V multi-fund structures.
“Fund I has N4.55 billion; Fund II, N3.69 trillion; Fund III N1.96 trillion and Fund IV N619.59 billion.
“It noted that Closed Pension Fund Administrators Fund (CPFAs) is N1.08 trillion and Existing Schemes (ES) N957.50 billion,” it said.
Chief Executive Officer, AfriPERA, an Energy and Infrastructure Policy research organisation, Chinedu Onyeizu, says Nigeria loses about 2.5 billion dollars annually from gas flaring in the country.
Onyeizu disclosed this in an interview with the News Agency of Nigeria (NAN) on Sunday, in Abuja.
“Since the 1950’s, Nigeria has been burning off its natural gas at flare points and despite efforts by successive administrations to curtail the wastage, the country loses an estimated 2.5 billion dollars each year to gas flaring as well as unattended impact of negative externalities associated to gas flaring,’’ he said
He said that the country’s natural reserves was the 7th largest in the world and the largest in Africa, adding that it was estimated that Nigeria had over 187 trillion cubic feet(tcf) of proven natural gas in reserves.
According to him, the country has an additional 600 tcf of unproven volume, 40 per cent of the proven volume is associated with gas.
“In other words, they are produced alongside oil and largely flared at location where we don’t have facilities to harness them,’’ he added.
He said that the Ajaokuta-Kaduna –Kano gas pipeline (AKK) project if well conceived would accrue to the country as the project could be transformational.
He said that apart from the fact that it would address the challenges of environmental pollution that come with open air green gas emission and flaring as practiced in many communities in Nigeria.
According to him, it also had the capacity to trigger an industrial revolution across the country.
“ Don’t forget, every country passes through an economic ladder that starts from Agricultural and food revolution, followed by industrial revolution before technological, computing and Artificial Intelligence revolution.
“ Most first world countries experienced these phases in their developmental stages.
“Therefore, visionary projects like the AKK or the Trans-Nigeria Gas pipeline projects can act as the required enabler to industrial revolution in Nigeria,’’ he said .
Onyeizu, who was an All Progressives Congress (APC) senatorial aspirant advised the Federal government to further segment the scope of the project and allow for simultaneous operations.
This, he said, would enable many competent players around the world bid and participate in the installation of the gas pipelines.
“ If well planned, a network of gas pipelines that deliver high pressure gas across the country for industrial use could be commissioned in less than 2 years.’’
He added that the AKK project no doubt had both direct and indirect employment benefits that could be offered to the people of Nigeria.
He said that it would give room for unskilled and skilled labours to thrive because during the construction and installation stages, local people would be recruited to help lay the pipelines.
Onyeizu noted that during commissioning, local experts would also be engaged to work with the counterpart expatriates to see that it started running as planned.
He said the project had the potential to grow the country’s Gross Domestic Product (GDP), when companies or industries operating in the country plug into the gas network to power their factories and businesses.
“ It will re-start the economy on a growth path and with the significant volume of proven gas deposits in Nigeria, we can sustain a radical strategy to industrialize our economy,’’ he said.
A cross section of Participants at the youth leadership training
A cross section of Participants at the youth leadership training
By Ahmad Umar
As the 2019 general elections draw closer, Chukwuma Ephraim Okenwa, Life Coach/Social Entrepreneur has advised Youths, not to sell the destiny of the nation by voting in exchange for money.
Mr Okenwa made the call during a training on “Emerging Leaders and Aspiring Entrepreneurs,” under the Youth Decide 2019 Campaigns in Abuja, Nigeria’s capital.
The youth, including mentors were drawn from the 36 States of the country.
He noted that vote buying was becoming a danger which, if not checked, could retard the country’s development. According to him, “anyone who is willing to buy his way into any electoral office does not have the needs of the people at heart but rather wants to serve his own interest.
“Money politics is the fundamental problem with Nigeria’s leadership; the mentality that if you must conduct election, you must spray money is what is killing us.
“That is why when people eventually get there, they will start stealing to recover their money; my appeal is don’t sell your votes; look for integrity. “Always vote people you can question or trust to help develop Nigeria.
“For us we are not desperate to rule Nigeria, we are desperate to change Nigeria and we believe that a new Nigeria is imminent and possible.
Okenwa said that God had blessed Nigeria as a wealthy nation, adding that Nigerians only needed vote in credible leaders who would unlock this wealth the benefit of all. He said on making Nigeria as one country, he will launch one Nigeria project with 12 participants, two each geopolitical zone in the country 6 female and 6 male.
“The one Nigeria project Reality Project seeks to celebrate our oneness as a people and as such position Young Nigerians as peace advocates. Youths must understand that what unites us as a nation, out weights the things that divided us.
Also speaking, Mr. Ugwu Ernest Ikechukwu Director of Afriwics Global Ltd, said that it was time for the youths to stand up and take their place so as to retire the old men.
He said if the youths have strength and capacity in emerging leaders and aspiring, would develop Nigeria.
Ernest predicted that 2019 would be the year of the youths and they would win elections and transform the nation in all spheres.
He urged youths to have passion for the development of the nation and to join hands to lead a rescue team as 2019 draws closer.
Mr Ikechukwu said Nigeria’s politics was not in favour of the Youth and common man, adding that only the elite enjoyed the dividends of leadership. He said that when youths were engaged they would be better equipped to run for any position.
Kaduna State Government in northern Nigeria on Sunday imposed a 24-hour curfew on Kaduna city and environs.
Governor Nasir El-Rufai announced the curfew in his twitter handle, saying the action was necessary and in the interest of the state.
This is a notice of a 24-hour curfew imposed on Kaduna town and environs, with immediate effect. Residents are advised to comply by this directive. The decision has been taken in the best interest of the state.
On Thursday, 55 people were killed in Kasuwan Magani, a Kaduna village, following disagreement between Christian and Muslim youths.
A crisis in February left more than 10 people dead in Kasuwan Magani. 65 suspects arrested in connected with that crisis have been arraigned in a Kaduna court.
Governor El-Rufai has called on residents of the state to respect one another and be law abiding.
Let us respect each other, abide by the law, do our duty to uphold harmony and firmly reject division and violence!
On Saturday, President Muhammadu Buhari has issued a statement through his spokesman condemning the Kasuwan Magani crisis, calling for calm.
He admonished the people to develop the spirit of tolerance and patience at all times.
Also in reaction to the Kasuwan Magani crisis, Nigeria Police in a statement said it has deployed its officers, including an Assistant Inspector-General of Police to carry out “24 hours surveillance and patrol, stop and search, continuous raid of identified criminal hideouts and black spots.” said its spokesperson Jimoh Moshood.
Moshood added that 22 suspects directly involved in the violence have been arrested and are in custody assisting the police in investigation.
Inspector-General of Nigeria Police, Ibrahim Idris
Inspector-General of Nigeria Police, Ibrahim Idris
Inspector-General of Police (IGP), Ibrahim Idris, has ordered the deployment of Assistant Inspector-General of Police in charge of Zone 7, Taiwo Lakanu, to lead a police intervention force to Kaduna to ensure that normalcy return to the area.
The News Agency of Nigeria (NAN) reports that 55 people were killed on Oct. 18 crisis at Kasuwan Magani in Kajuru Local Government Area of Kaduna state.
NAN also reports that a similar crisis in February left more than 10 people dead in Kasuwan Magani, while 65 suspects involved in the crisis were arraigned in court, but the case is still ongoing.
Acting DCP Jimoh Moshood, the Force Public Relations Officer, disclosed this while addressing newsmen on the violence on Sunday in Abuja.
He said that the police deployed included four Police Mobile Force (PMF) units, Counter Terrorism Unit (CTU), Conventional policemen, Federal Special Anti Robbery Squad (FSARS), Intellegemce Response Team (IRT) and Technical Intelligence (TIU) among others.
Moshood said that the operations would cover the entire Kasuwan Magani and its environs and other flash spots in the state.
“The intervention force will be working in synergy with the Kaduna state police command to ensure that peace and normalcy returns to the area.
“To achieve success, the force will be proactive and strict in the enforcement of its mandate, police standard operations procedures and rules of engament,” he said.
He said that the force would carry out a 24 hours surveillance and patrol, stop and search, continuous raid of identified criminal hideouts and black spots.
The spokesman said that operation would cover communities, towns, villages, vulnerable points, government and private infrastructure.
He enjoined traditional rulers, religious leaders, politicians, parents and guardians to support the police in the discharge of their responsibilities.
Moshood said that 22 suspects directly involved in violence have been arrested and are in police custody assisting the police in the investigation.
The spokesman said that some prominent personalities kidnapped during the violence have also been rescued and reunited with their families. (NAN)
A group in southwest Nigeria, Epe Professional Women Association (EPWA) has declared its support for female aspirants contesting for public offices in the 2019 general elections.
President of the association, Funke Moore, disclosed this at the official launching, fund raising and induction of members in Lagos on Sunday.
Moore said that gender equality has provided the opportunities for women to contest for any position and also to serve in public offices.
“Therefore, we professional women association has affirm to rally our support for any female political aspirant in Lagos state and beyond.
“It is an opportunity given to women to prove our worth in handling responsibilities outside the shore of our homes and immediate environment.
“We are professionals, we can serve and we can do it better,” she said.
According to her, the association was established on Sept. 15, 2015, with 20 members in attendance, but later metamorphosed to professionals association with over 50 members.
She said that the mission of the association was to impact positively in the lives of girls and women across the division.
“It is an association formed to provide humanitarian services to people, it is non-governmental and not for profit making.
“It is also an association established principally to uplift and better the lives of women and Girl-child from underprivileged background in Epe division in particular, and Lagos State in general,” she said.
Moore said that the association has donated various items to hospitals and health centres.
She also said that the association has carried out medical outreach in its drive to positively impact on the lives of families in remote and undeserved communities in Epe division.
Moore added that the association had provided mentoring and counselling support for young girls and women, as well as delivering meaningful opportunities for career progression through mentorship.
Chief Lanre Razak, the Balogun of Epe Land, said that women needed to be given opportunities to serve in public offices.
“They have their own innate talents and skills that they can be deployed for the betterment and development of the society.
“I hereby pledged support for any woman that aspire for public office because they have so much to offer,” he said.
Razak encouraged more women to be involved in governance and urged them to be good ambassadors of Epe division.
Earlier, Mrs Adeyemi Ikuforiji, former Speaker, Lagos State House of Assembly, advised the group to uphold their career objectively.
The News Agency of Nigeria (NAN) reports that 53 members were inducted while seven personalities were given awards.
President Muhammadu Buhari of Nigeria and his Republic of Benin counterpart, Patrice Talon, will on Tuesday perform the official hand-over of the new Economic Community of West African States (ECOWAS) Border Posts at Seme-Krake and Neope-Akanu in Badagry.
The Lagos State Government said on Sunday that all necessary arrangements to ensure a hitch-free unveiling ceremony had been firmed up, while Buhari would be accompanied to the venue by Gov. Ambode.
According to the government, the President will be received at the airport by the governor, while the duo will thereafter proceed to the venue.
“Already, all necessary security and logistics arrangements have been firmed up by the state government in partnership with relevant federal government agencies.
“To this effect, the Lagos State Government is soliciting the usual support and cooperation of residents throughout the visit,” it said in a statement by the Chief Press Secretary to Gov. Akinwumi Ambode.
The National Emergency Management Agency (NEMA) on Sunday said 12 farmers were killed and 1,300 others displaced in separate attacks coordinated by the Boko Haram insurgents in Borno, Northeast Nigeria.
Mr Bashir Garga, NEMA’s Northeast Zonal Coordinator, made the disclosure in a statement in Maiduguri.
Garba said the insurgents hacked 12 farmers to death while working on their fields on Saturday afternoon at Kalle village, 17 kilometres away from Maiduguri.
“They used machetes to kill their victims who were working on their farms; as confirmed by members of the Civilian Joint Task Force (CJTF).
“So far, we recovered 12 dead bodies from the fields and nearby bush.
“Three persons were injured in the raids. The insurgents had guns, but did not use them so as not to attract the attention of troops in the nearby Molai village,” he said.
Garga said that the Boko Haram insurgents stepped up attacks on farmers and loggers in recent years because they accuse them of passing information to the military.
The Coordinator disclosed further that one person was killed and 1,300 others displaced when the insurgents sacked three communities on Saturday night in Jere Local Government Area of the state.
Garga listed the affected communities to include Dala-Malari, Fuguri, and Femari.
He called on the people to be vigilant and report suspicious movements and persons to security agents.
“Attacks on soft targets is the hallmark of the insurgents’ due to increased military clampdown that has curtailed their activities.
“Humanitarian partners were being mobilized to cater for the victims as soon as possible,” he added.
