Another Nollywood Veteran Joins Tinsel TV Series

Nigerian soap opera Tinsel has a new addition to its cast in the person of veteran actor Eucharia Anunobi.
    Anunobi joins the soap playing the role of Claudia Ojeme, mother to Jared Ojeme and wife of Japhet Ojeme. This is a welcome development as the show has witnessed a number of exits with popular names as Damilola Adegbite, Chris Attoh, Victor Olaotan and Uti Nwachukwu all written off or leaving the cast at one point or the other.

     In a related development, the soap introduced Tayo Faniran of the Big Brother Africa fame to its cast. He joined the team on Monday, August 17 to play the role of Soji which was previously played by Gbenro Ajibade. Before now, Tinsel switched the role of Angela Dede (Matilda Obaseki-Mozia) with actress Theresa Edem.

     With Anunobi’s introduction she joins other seasoned actors as Kalu Ikeagwu, Iretiola Doyle and Bimbo Manuel on the set of Tinsel. Eucharia Anunobi is a Nollywood bigwig. The Owerri indigene holds a degree in English Language from the University of
Nigeria, Nsukka. She has a rich resume in the industry but is more often remembered by her 1998 appearance in the Nollywood classic
– Died Wretched.

Check image below:
L-R: Eniola Badmus, Hilda Dokubo, Funke Akindele and
Eucharia Anunobi on the set of a movie.

BSU VC RACE NARROWS DOWN TO THREE CANDIDATES

The race to be the Vice Chancellor of Benue State University, yesterday was narrowed down to three candidates from the initial six.
       

    After a gruelling session, Governing Council of the University elected former minister, Professor Ada from Kwande Local Government (15 votes), Professor Ashiko from Ushongo Local Government (14 votes) and Prof Kembe from Buruku – (10 votes). Professors Varvar, Fiase and Adejo got the least votes and are out of the race.
          It is now left for the visitor of the university, Governor Samuel Ortom, to appoint one among the three candidates as the tenure of the incumbent VC, Prof Mrs Charity Angya ends on 2nd November, 2015.

Kim Kardashian To Deliver Baby Yeezus On Christmas Day

Kanye West and Kim Kardashian are set to welcome their second child on December 25, and the pair is elated that the baby will share same birthday with Jesus Christ...

Kanye West is known for his ego problems. In the past, he has compared himself to the Almighty.
Kim Kardashian is known for her eccentric nature and on a few occasions she has attempted shutting down the internet.

In 2009, the Jesus Walk rapper confirmed speculations of his ‘supremacy’ when he reportedly said: “God chose me, He made a path for me. I am God’s vessel.” Earlier in the year, April 2015, the world was greeted by yet another shocker in a ‘modern day Bible’ titled ‘The Book of Yeezus’. It was sold for $20 on Etsy.com and acknowledges the rapper as a spiritual figure. “ In a sense, Kanye’s awesome and orchestrated spectacle is truly a religious experience,” an excerpt of the Kanye ‘Bible’ read.

Medical reports from sources close to the pair say Kardashian West is due for December 25, according to TMZ. In readiness for this, the Wests have reserved a Deluxe Maternity Suite in Los Angeles.
   The deluxe suite is at the Cedars-Sinai Medical center, Los Angeles. It is a non-profit, specialist hospital founded in 1902 with currently over 2,000 doctors and about 10,000 other medical staff.

One More Chance At Greatness -9Ja @55

The years have been tough for Nigeria. The years after the independence were full of storming battles amongst politicians which never settled before the young majors worked out a coup that killed some of the leaders of the post-independence Nigeria.

Riddles of the past
Nigeria continues to be asked tough questions from the period that the political system has never really answered. The post- independence turbulence reached a crescendo when the South-
eastern part of Nigeria, led by Chukwuemeka Ojukwu, decided for a separate country. The Biafran War arising from that quest was fought from 1967 to 1970. A country that had won independence without a single bullet was fighting to keep itself together under a decade after that. The years have been tough, being a Nigerian even tougher, but
after all these years, we are still here, and with the events of 2015, we really and truly have another shot at greatness.

No matter what…
What makes Nigeria stand out for me is the fact that through all its tough times, this country is the king of brinkmanship; Nigeria never goes off the cliff, it always bounces back. The first military coup of 1966, the civil war the following year, the truncation of democratic rule in 1983, the June 12,
1993 crisis, the divine interventions of 1998, the return of democracy in 1999, the eventual loss of the power by the ruling PDP after 16 straight years of underwhelming leadership, the successful transition from one political party to another,the defeat of an incumbent Nigerian president for the first time ever, and the bloodless transition between two presidents of opposing political interests in 2015, amongst
other tough situations this country has found itself, shows that when Nigeria goes through fire, it knows to keep going, it
knows the fire will not burn it to ashes.
This country knows it will always rise through and survive the toughest of times. It is not the ideal reality one craves but it is better to know that when the life-or-death question gets asked by situations, Nigeria may look like it picked death, it always comes out alive! That is special. And that is a sign this country needs to put its act together, design a practical development plan and institute a system that’d lift its people
out of poverty towards the reality of prosperity.

Proudly Nigerian
Talking about the people of Nigeria, we may look like other people from the rest of sub-Saharan Africa but we really are the pick of the bunch. The Nigerian is likely the one leading the group when you find Africans gathered. When the Nigerian is not leading, the Nigerian is leading the leader. Nigerians are confident and never afraid to question anyone who assumes
that all Africans are docile and willing to be pushed around. You cannot push the Nigerian around. The Nigerian will always find a way out of the toughest situations. We love our other African brothers and, despite some form of xenophobia from other parts of Africa towards our people, we know to always remember to be the big brother. To never
resort to casting dirt on our common African escutcheon.

        For a long time, we were deemed as the drug pushers and the 419ners but that has since changed, even though some of those misconceptions still hold sway. Of course, like nationals from other countries, we have our vices, but how the whole world ended up deciding that all Nigerians were drug pushers and 419ners was beyond rational. Today, we have helped to change the way to party on the continent not to mention our battles for independence across
the continent. Nigerians for once have stood their ground on one issue for over 500 days, the #BringBackOurGirls
movement. Young Nigerians are doing extraordinarily well at universities around the world, and Nigerian sportsmen are dominating events for other countries when not doing it for Nigeria. Our people continued to show that we are a people that can make things happen, given the opportunity, irrespective of what our country was going through.

On the defensive
You are constantly defending the Nigerian passport wherever you go because, even when not explicitly stated, you are always guilty of wanting to commit a crime you are yet to commit and you are a permanent suspect. As a Nigerian, you know to show the right examples because you just know your nationality
is especially under the radar. Embassies and consulates treat your passport with disdain and despite my own extraordinary travel record, I got a bit of that treatment recently. I have since written a letter to the ambassador of the country involved and I am sure at the end of the whole episode, something will give. If you need a Nigerian who will never be a
victim without a fight, you have found one here. That much I stated in my letter to the ambassador.
More Than Colonial Legacy The British Left Behind
Nigerians fight when they need to even when it may look like they aren’t interested. The June 12, 1993 protests, the #OccupyNigeria 2012 historic protests, the mass movement
that voted out the incumbent government in 2015 showed that when push comes to shove, Nigerians will never fail to take a stand for their country. Those who assume the silence of a Nigerian is an act of cowardice often get to receive the hardest punches from that once deemed as a quiet coward. Nigerians love life and anything that threatens their way of life has often come up the loser before us. My doubts about
whether Nigerians can truly stand for what is right and defend themselves died a natural death with the realities that surrounded the 2015 elections.

I am a believer in the possibility of one man or woman to change a country’s narratives. Despite being relatively young, I have done my bit to raise the political consciousness of my people, to defy the norm and stand for my rights in the face of big bullies and to show fellow Nigerians that when we get
beaten and we stay down, it is because we choose to stay down, not because we cannot stand up and defend our rights and dignity.
      On my part, I have shown that you may be one person, you really can be that difference. Some other Nigerians, young and old, have shown me that this country has got more and this country can be more. I have been inspired by these Nigerians. The future looks beautiful because the stories and narratives are changing. With the change of government as led
by the incorruptible Mohammadu Buhari, our country has another shot at greatness. Time will tell how far we go this time. But we know we can!

#GreatNigeria

15 Best Things About Being Close To Your Mom

1. You look forward to going home
You don’t even need a holiday or
some other occasion. Sometimes you just go home for the weekend just
to spend time with her.

2. You have the most amazing role model in your life. It doesn’t matter
what she’s done for a living — she’s always shown you what it means to
be a loving, successful human.

3. You have a travel companion who doesn’t get offended when you get
hangry. Your best friend gets offended when you snap at her. Your
boyfriend gets annoyed. Your mom has a granola bar in her purse for you
even though you’re 28, and will silently hand it to you and ignore you until
you chill out.

4. When something great happens there’s no doubt in your mind who
you’ll call first. It takes approximately 0.2 seconds from when HR calls
you with a job offer to when you call your mom to tell her.

5. When something bad happens she’ll be there faster than your best
friend even if she lives in another state. Your ex-boyfriend better hope
he never runs into her, unless he wants to be murdered.

6. You still use your phone to talk, but only to her. Your voicemail log
just alternates between “mom” and “home” (and “landlord”).

7. But now that she’s discovered texting it’s hilarious. Half the text
screenshots in your phone are from her.

8. She treats your best friend like her own child to the point where your
bestie even calls her mama. “Why haven’t you brought Willow over for
dinner lately?”

9. You’re guaranteed at least one like/favorite on Facebook/Twitter/
Instagram because she likes everything you do. And she will probably like
it within five minutes of you posting it.

10. She’s the best person to go shopping with because she’s the only one
who is completely honest. And she will probably buy you that shirt.

11. You already know how you’re going to parent your kids, because
you’re going to raise them just how you were raised. Except you won’t say
no when they ask for a Barbie Jeep.

12. She sends you inspirational emails when she knows you’re having a bad
week. And she signs all her emails, “love ya,” even when she’s guilting you
about something.

13. You never have to explain who anyone is, because she keeps track of
all your friends. She even always knows which Jess you’re referring to.

14. You don’t worry about turning into her, because you want to. Why
wouldn’t you want to?

15. You feel bad for everyone else because they do not have the best
mom. Sorry everyone.

#ShoutOutToMyMom
&
#Glamour

Guard Flees After Defiling Two Sisters In Lagos

A 61 year old guard in Lagos simply identified as John is
wanted by the police for allegedly raping two sisters and
appeasing them with N200.

The Punch reports that the incident happened in Fidella
Street, Aladura Estate where the girls, Comfort and Precious
(real names withheld) aged 11 and 10 respectively were
usually given N200 by John each time he raped them. He also
threatened to kill them if they told anyone about it.
The street where the incident happened. Photo Credit: The
Punch
This was said to have continued for several weeks until their
mother, Rosemary Peter, a food seller discovered on Sunday,
August 30. The girls complained about back pain and
Rosemary also noticed that the private part of one of the
girls was slack.

She said John usually asked the girls to bring food in a take-
away pack to his work place and she would comply without
suspecting that he was using the opportunity to take advantage
of the girls. When the matter was reported to the police, John fled he area although the police are on his trail. Rosemary said: “I work as a food seller. John was one of my customers. He would say I should send a take-away pack to him at his workplace by afternoon. So, when the girls returned from school, I would send the two of them to take the food to him. I did not suspect that he was raping them.
“When they took the food to him, he would take them to a
place and rape both of them. After satisfying himself, he would give them N200, and warn them not to say anything at home. He would threaten that he would harm them if they spoke up.
     “Eventually, the two of them started to complain about headache and back pain. I was worried. On one occasion, I happened to be where the 11-year-old was taking her bath, and I observed that her private parts were slack as an adult’s. I was shocked, and I urged her to tell me what went wrong.
“That was when she opened up that it was John who had been
sleeping with her and her sister. I rushed to the police
station to make a report, but news had got to John that the girls had let out the matter, and he fled the area on the same
day.

“But the police have assured us that he would be arrested.
They told us to alert them anytime we set our eyes on him.”
Fatai Gafar, a resident in the area said John must be arrested
and noted that the children had not received adequate medical
attention.
“The whole estate is aware of the incident. It is very
unfortunate. The security man does not live here with his
family. He was the only person staying in the place he rented,
and he has fled.”
The rape of minors is fast becoming an alarming occurence
and unfortunately, few cases get reported. This is sometimes
due to the stigma that is attached to the incident. Some
victims also refuse to report it for fear of being accused of
immorality.

(The image below is the street where the incident happened)

Reasons why The Nigerian Economy is going down

Charles Onunaiju, the director of China Cultural Centre, has stated that Nigeria can diversify its economy by using the “China model”, which involves growth of local industries and
increasing their productivity.

He said that the Nigerian economy is hurting because economic
experts who served under various governments failed to
diversify the economy.
In Abuja at a “Roundtable on Nigeria-China Economic
Relations” the director stated that imported economic
experts, including the immediate past minister of economy,
Ngozi Okonjo-Iweala, who promised to diversify the economy,
failed to do so.
Onunaiju also added that Nigeria could learn a lot from China,
which diversified its economy and has grown to become one of
the largest in the world. The CCC director said it was not enough for Nigerians to import finished products from China, But they should also export quality local products to the Asian
economic giant to earn foreign exchange and stimulate the nation’s economy.

Charles Onunaiju said: “Nigeria should share notes with China;
it is not enough to import goods and products from China.

Every administration had been talking about changing the economy from a mono-economy which is dependent on oil to a diversified economy, but nothing had been done so far.
     Even our super economic minister who was plucked from the World Bank and that was expected to diversify the economy did not do so. Though there are concerns about the global economy, but China economic potential is still strong.”
He stressed that China offered an opportunity to the world that should be seized by those who are ready, noting that Africa could gain from partnering with the Asian economic giant.

Scientifically proven: "Why woman love Funny Guys"

Look at any list of the qualities that women look for in a potential romantic partner, and "sense of humor" lands somewhere at the top. A study conducted at Stanford University School of Medicine found that biology may be to blame for women finding funny men irresistible.

The study, which involved 22 children aged six to 13, sought
to investigate the developmental origins of differences in the
way males and females respond to different stimuli. The
study participants were shown a series of clips, some funny
and some not so funny. As they watched the clips, the
children were hooked up to a functional magnetic resonance
imaging machine (fMRI) to measure their brain's responses.

After watching the clips, the children were given short
questionnaires about the clips and asked to answer them on
a number scale.
During the funny clips, girl's brains showed more heightened
activity than boys. According to the researchers , this meant
that the girls experienced more positive feelings in response
to the funny clips than boys did. Girls felt more of a sense of
reward in watching the funny clips than boys did.
"Our data for the first time disclose that sex differences in
humor appreciation already exist in young children,"

they wrote.

Fast forward 20 years and you have the reason why
attractive women sometimes go for not as physically
attractive, yet funny, men. According to the researchers, a
potential mate's humor is effective in captivating women
because "the female brain, particularly the reward circuit, is
biologically better prepared to respond accordingly."
Perhaps that's the reason why comedians with seemingly
unattractive characteristics tend to land very attractive
mates: Kevin Hart and girlfriend Emiko; Katy Perry and
Russell Brand; Eddie Murphy and ex-wife Nicole Murphy;
Jerry Seinfeld and wife Jessica... the list goes on and on.
But the researchers warn against jumping to any concrete
conclusions too quickly. They note that the study is relatively
small and a larger participant group would yield better
results.
For now though, revel in the fact that we're one step closer to
knowing why you just can't stop thinking about that guy who
told those hilarious knock, knock jokes at happy hour.

"I guess that's why the ladies can't resist biggie"

Arsenal must-win says Wenger

Arsene Wenger says Arsenal face a must-win fixture when they take
on Greek side Olympiakos in the Champions League at the Emirates
Stadium on Tuesday.
Wenger’s team slumped to a sloppy 2-1 defeat in their opening Group
F fixture at Dinamo Zagreb and with a double-header next against
Bayern Munich, the Arsenal manager knows there is now little margin
for further error.
“You have to win your home games if you want to qualify from the
group stage, it is simple as that,” Wenger said on Monday.
“We cannot afford to drop points now against anyone at home.”
Greek league leaders Olympiakos have won all five of their domestic
fixtures this season, although they have a terrible record playing away
to English clubs in Europe.
“They are a team with a big advantage – they dominate their league
easily, so they can prepare for these kinds of games,” Wenger added.
“They are well organised and have some players who know the Premier
League, like (Esteban) Cambiasso and (Pajtim) Kasami who both played
in England.”
It has been a poor start for English sides in Europe’s elite club
competition this season, with defeats for both Manchester clubs as well
as Arsenal.
Wenger, though, does not believe any conclusions can yet be drawn
about the chances of a Premier League team winning the tournament.
“The Premier League is very, very tough. Is that an influence or not?
I don’t know, but it’s a bit early to come to any conclusions. We have
to wait a little bit longer,” he said.
“A second year without us being successful and you could come to a
conclusion of, ‘yes, there is something we have to analyse deeply’, but
I don’t believe so at the moment.
“Are we far away? I don’t think so, but we have to show that with our
performance.”

President Buhari Delivers Powerful Speech At UN General Assembly

President Muhammadu Buhari on Monday, September 28,
addressed the international community at the 70th Session of
the United Nation Nations General Assembly in New York,
USA.
In his 15-minute speech the Nigerian leader outlined the
major objectives set by his administration so far. Buhari
spoke about Boko Haram insurgency which he insisted has
nothing to do with Islam; he noted that bringing peace to
Nigerians was number one goal for the new government adding
the joint task force had already recorded a series of
successful operations in the northeast.

The politician also reiterated his government’s commitment to
tackling the problems “inherited” from the previous
administration and referred to corruption as one of the major
challenges of the 21st century.
     The number one politician of Nigeria pledged to confront the
evils of public funds looting and illicit financial outflows.
Buhari urged the global community to “redouble efforts
towards strengthening the mechanisms for dismantling safe
havens for proceeds of corruption and ensuring the return of
stolen funds and assets to their countries of origin.”

See the speech in full below:

“I would like, Mr. President, on behalf of the Government
and people of Nigeria, to congratulate you and your country on
your election to preside over the 70th session of the U.N.
General Assembly.
“May I also express appreciation to your predecessor, Mr.
Sam Kahamba Kutesa and the Secretary General Mr. Ban Ki-
moon both of whom worked tirelessly to ensure proper
articulation of the post-2015 Development Agenda and to
maintain the focus and commitment to the ideals of the
United Nations. I thank Mr. Ban Ki-moon for his recent visit
to Nigeria when we held very useful discussions.
“Mr. President,
“Fifty-five (55) years ago almost to the day, my great
predecessor, Nigeria’s first Prime Minister, Alhaji Abubakar
Tafawa Balewa, stood on this forum to declare Nigeria’s
desire to develop and maintain friendly relations with all
countries. He also assured the world of our country’s
commitment to uphold the principles upon which the United
Nations was founded.
“Mr. President, my country, Nigeria, has lived by this
conviction, even when judgement went against us in territorial
disputes with our neighbours. We respected those judgements
and abided by them as a mark of respect for the rule of law
and the charter of this organization. Nigeria’s record in the
U.N. peacekeeping is second to none. I myself as a young
officer in the Nigerian Army did tours of duty in Congo and
the Lebanon.

“Nigeria has contributed to U.N. peacekeeping efforts in
Ethiopia, Liberia, Sierra Leone and Darfur. Furthermore, we
are proud of our contributions to other activities of the U.N.
including the Peace Building Commission, the Human Rights Council and security sector reform.

“Mr. President,
“We are gratified to note that most countries have pledged
commitment to the post-2015 Development Agenda and the
Sustainable Development Goals (SDGs) with their means of
implementation. The successor frameworks of the MDGs have
come, Mr. President, with lofty aspirations and if I may say
so, heroic assumptions! Nonetheless, they target development
cooperation by the international community up to the year
2020. And they deserve universal support.
“This is because the SDGs mirror the hopes and aspirations
of much of the world. I should stress that for the newly
adopted SDGs to be truly global, they must be practical. In
this regard, the SDGs’ core objectives of poverty eradication
and reducing inequalities must be met within the framework of
a revitalized global partnership support by concrete policies and
actions as outlined in the Addis Ababa Action Agenda.
9. Luckily, these two core objectives of the SDGs are
precisely at the centre of Nigeria’s new administration’s
agenda. It must be emphasized, Mr. President, that Foreign
Direct Investment supplemented where suitable by Official
Development Assistance as outlined in the Addis Ababa
Agenda are necessary, though not sufficient, conditions for
accelerated development in countries that are trying to catch
up.
“In this connection, I would like to appeal to industrialized
countries to redeem their pledge of earmarking 0.7%
(nought point seven percent) of their GDP to development
assistance. With the sole exception of the UK, all concerned
countries have, I am told to meet the UN requirement.
But,
Mr. President, with SDGs we have the opportunity to improve
the lives of people not just in the developing world but in all
nations.

“The Secretary General himself has grouped the SDGs into what he calls six “essential elements” namely:

• Dignity
• Prosperity
• Justice
• Partnership
• Planet
• People

“As a prerequisite to these and as we look at history and
remember the terrible events that gave rise to the birth of
the United Nations in 1945, I would like to propose a seventh:
PEACE
“Peace, Mr. President, is close to the hearts of Nigerians, as
we are in the front line in the war on terror. Boko Haram’s
war against the people of Nigeria, Chad, Niger and Cameroon
may not attract as much worldwide attention as the wars in
the Middle East but the suffering is just as great and the
human cost is equally high.

“This is a war about values between progress and chaos;
between democracy and the rule of law. Boko Haram
celebrates violence against the weak and the innocent and
deplorably, they hide behind their perverted interpretation of
Islam. Boko Haram is as far away from Islam as any one can
think of.
“Many of my colleagues attending this forum would want to
know how our new government intends to tackle the huge
problems the government has inherited. Friends of Nigeria
and foreign investor partners will be encouraged to know that
the new government is attacking the problems we inherited
head-on.

“We intend to tackle inequalities arising from massive
unemployment and previous government policies favouring a
few people to the detriment of the many. We intend to
emphasize quality technological education for development and
lay foundation for comprehensive care of the aged, the
disadvantaged and the infirm. But for now terrorism is the
immediate problem.

“Accordingly, Mr. President, Members of the General
Assembly, the new Nigerian Government which I have the
honour to head, moved with dispatch to put in a bold and
robust strategy to defeat Boko Haram. Nigeria and her
neighbours Cameroon, Chad and Niger plus Benin are working
together to face this common threat within the regional
framework of the Lake Chad Basin Commission. We have
established a multinational joint task force to confront,
degrade and defeat Boko Haram.
Muhammadu BUhari and United Nations Secretary General
Ban ki Moon

“We have driven them away from many of their strongholds,
killed or captured many of their operatives or commanders
and freed several hundreds of hostages.

“Mr. President, one of our major aims is to rescue the
Chibok girls alive and unharmed. We are working round the
clock to ensure their safety and eventual reunion with their
families. Chibok girls are constantly on our minds and in our
plans.

“Mr. President, terrorism is by no means the major or the
only evil threatening and undermining the wellbeing of
societies around the world.

• Corruption
• Cross border financial crimes
• Cyber crimes
• Human trafficking
• Spread of communicable diseases
• Climate change
• Proliferation of weapons

are all major challenges of the 21st century which the
international community must tackle collectively. Let me
reaffirm Nigerian government’s unwavering commitment to
fight corruption and illicit financial flows. By any
consideration, corruption and cross border financial crimes are
impediments to development, economic growth, and the
realization of the wellbeing of citizens across the globe.
“Nigeria is ready and willing to partner with international
agencies and individual countries on a bilateral basis to
confront crimes and corruption. In particular, I call upon the
global community to urgently redouble efforts towards
strengthening the mechanisms for dismantling safe havens for
proceeds of corruption and ensuring the return of stolen
funds and assets to their countries of origin.

“Mr. President, the world is now facing a big new challenge:
human trafficking. This is an old evil taking an altogether new
and dangerous dimension threatening to upset international
relationships. We in Africa are grieved to see on international
networks how hundreds of thousands of our able bodied men
and women fleeing to Europe and in the process thousands
dying in the desert or drowning in the Mediterranean.

“We condemn in the strongest terms these people traffickers
and will support any measures to apprehend and bring them to
justice. At the same time, we are very appreciative of
European governments notably Italy and Germany, for their
understanding and humane treatment of these refugees.

“Last year, our continent faced the dreadful occurrence of
Ebola . We sincerely thank the international community for the
collective efforts to contain this deadly disease. We are not
out of the woods yet but we would like to record our
appreciation to the United States, United Kingdom, France and
China for their outstanding assistance in arresting the spread
of Ebola and care of those infected in collaboration with host
countries.
Mr. President,

“Nigeria fully subscribes to and fully endorses Goals 13, 14
and 15 of the SDGs regarding Climate Change. In Nigeria,
desertification and land erosion and degradation leading to
biodiversity loss are real threats to our environment and we
shall propose under the auspices of the Lake Chad Basin
Commission a regional approach to combat these
environmental challenges.

“We look forward to the UN Summit on climate change in
Paris in December 2015. This summit should provide
optimism to humanity on addressing the looming threat faced
by many communities around the world.
“Mr. President,
“We are witnessing a dreadful increase in conflicts fuelled by
availability of small arms and light weapons. I call upon all
member countries to demonstrate the political will needed to
uphold the UN charter. For a start, a robust implementation of
the Arms Trade Treaty will guarantee that small arms and
light weapons are only legally transferred. Arms traffickers
and human traffickers are two evil species which the world
community should eradicate.

“Mr. President,
“As we engage in these annual debates, we need remind
ourselves of the principles that led to the founding of the
United Nations. Among those are peaceful coexistence and
self-determination of peoples. In this context, Mr.
President, the unresolved question of self-determination for
the Palestinian people and those of Western Sahara, both
nations having been adjusted by the United Nations as qualifying
for this inalienable right must now be assured and fulfilled
without any further delay or obstacle.
“The international community has come to pin its hopes on
resolving the Palestinian issue through the two – states
solution which recognises the legitimate right of each state to
exist in peace and security. The world has no more excuses or
reasons to delay the implementation of the long list of
Security Council resolutions on this question. Neither do we
have the moral right to deny any people their freedom or
condemn them indefinitely to occupation and blockade
Mr. President, delegates of member countries,
“UN is 70 years old. It can count many more than 70 major
achievements as the world’s forum and family reunion. It is
my hope that in the next 70 years, it will achieve control of
climate, help to eliminate communicable diseases, eliminate
major and local conflicts and therefore eliminate the problem
of refugees, take major steps towards reducing harmful
inequalities between nations and within nations and above all,
eliminate nuclear weapons.
“Mr. President, as this is my first address in this Assembly,
I thank you and the delegates for listening so patiently.

A new strength in profit- Dangote Cement

Dangote Cement Company has rebuilt strength in profit
performance in the current year after a profit drop
last year. Against a drop of 21% in profit in the
preceding year, the cement manufacturing company
may raise after tax by over 40% in 2015 based on the
current growth rate.
The drop in profit in 2014 was due to inability to grow
sales revenue – which was only 1.7% up at N391.64
billion. This year sales revenue is accelerating and this
has spurred profit performance as well. Three
favourable developments explain the improved profit
outlook for the company this year- accelerating sales
revenue, a moderation in cost of sales and a shift from
a net interest expenses to a net interest income.
     The company closed second quarter operations in June
with a sales revenue of N242.21 billion, which is an
increase of 20.7% year-on-year. It is expected to
close the 2015 operations with a turnover in the region
of N450 billion. This will be an accelerated growth
compared with a flat growth of 1.7% in the preceding
year.
    After tax profit amounted to N121.81 billion for
Dangote Cement at the end of the second quarter, an
increase of 27.6% year-on-year. Full year projection
indicates an increase of over 40% in net profit for the
company in 2015. It posted a net profit of N159.5 billion
at the end of 2014. A new peak in profit is therefore
expected from the company this year. Its peak profit so
far is the N201.20 billion it reported in 2013.
      Compared with last year when cost of sales grew ahead
of sales revenue, cost of sales has moderated as at the
end of June. Cost of sales grew by 14.9% compared with
the growth of 20.7% in sales revenue, which has
improved gross profit margin from 63.5% at the end of
2014 to 65.1% at the end of June.

Another major positive development on the income
statement this year is a change from a net interest
expenses position last year to a net interest income at
the end of the second quarter. A shift from a net
interest cost of N2.41 billion at the end of 2014 to a
net interest income of N6.32 billion in the second
quarter has boosted the bottom line significantly in the
current year.
These developments have provided a new strength for
the company this year in terms of ability to convert
revenue into profit. Net profit margin has improved
from 45.7% in the same period last year and from
40.7% at the end of 2014 to 50.3% at the end of the
second quarter. Accelerating revenue and moderating
cost are the summary of the operating story of
Dangote Cement so far this year.
The company’s short-term debts grew by almost 60% to
N176.44 billion within the six months of the year, which
caused a tripling of finance costs to N24.38 billion
year-on-year at the end of the second quarter.
      However a robust increase in cash resources enabled
the company to grow interest income ahead of interest
expenses.
Cash and bank balances rose by 151% over the closing
figure last year to N51.63 billion at the end of June.
This follows a rise of 23.7% in net cash flow generated
from operating activities to N179.8 billion against
declines in net cash used for both investing and
financing activities during the review period.
       The company earned N7.22 per share at the end of the
second quarter, up from N5.63 in the same period last
year. The full year earnings per share expectation is
above N13 for Dangote Cement in 2015 against N9.42 in
2014.
FBN Holdings: rising cost constrains profit capacity
FBN Holdings raised gross earnings by 28% year-on-
year at the end of June but could not convert the
increased earnings into profit. Two major cost
increases accounted for this – loan loss charges and
interest expenses. Profit grew by just 7.7%, which
leaves the company with full year prospects of a profit
decline.
       Non-interest income spurred revenue growth during
the period with exceptional growth in income from
investments and net gains on foreign exchange trading
as well as other operating income. The bank requires a
step up in revenue growth in the second half without
which earnings growth will most likely slow down
considerably this year.
     The bank posted an after tax profit of N40.06 billion at
the end of June, an increase of 7.7% year-on-year.
Profit growth is expected to slow down in the second
half and the full year prospects indicate a likely drop in
profit for FBN Holdings in 2015. The company had grown
after tax profit by 13.7% in 2014 to N82.84 billion. A
decline in profit in the current year will mean a rise and
fall pattern for FBN Holdings since 2013 when the
bank’s profit went down by 6.7%.
Gross earnings amounted to N271.82 billion at the end
of the second quarter, an increase of 28% in year-on-
year. Based on the growth rate in the second quarter,
gross income is expected to stand in the region of 547
billion for FBN Holdings at the end of 2015. Revenue
growth is expected to slow down from the growth rate
of 21.3% in the preceding year.
      The moderate increase in profit against a strong
growth in revenue is explained by rising cost. All the
bank’s three main expense lines are on the rise but loan
loss expenses and interest cost appear to be out of the
control of management.
Loan loss provisions grew by 239% year-on-year in the
second quarter to N22.58 billion, which is already quite
close to the N25.94 billion impairment charge the bank
made in all of last year. The proportion of gross
earnings claimed by impairment charge rose sharply
from 3.1% to 8.3% over the review period. Up to 11% of
interest income was applied as impairment charges for
credit losses against 4% in the same period last year.
Interest expenses also rose by 47.1% to N73.10 billion
in the second quarter, far ahead of the 24.8% growth
in interest income. Interest cost therefore claimed an
increased share of gross earnings of the bank from
23.4% in the same period last year to 26.9% at the end
of June this year. Interest expenses and impairment
charges claimed virtually all the increase in interest
income during the period.
The contribution of fee-based earnings to gross
earnings increased from 22.4% in the same period last
year to 24.3% this year. This provided the strength for
the moderate improvement in profit. Customer deposits
increased marginally by 2.5% to N3,126.16 billion
compared with the growth of 47.1% in interest
expenses. This means the average cost of deposits
increased during the review period.
The third major cost element – operating expenses
moderated relative to gross earnings at an increase of
15.1% to N118.40 billion at the end of the second
quarter. With a more rapid growth in gross income, the
bank was able to reduce operating cost margin from
48.4% to 43.6%. This provided the little cost saving
that permitted the moderate increase in profit.
The bank lost profit margin, as costs grew generally
faster than revenue during the period. Net profit
margin declined from 17.5% in June last year to 14.7%
this year. This is equally below the 17.2% net profit
margin the bank generated at the end of 2014. Loss of
profit margin follows the rapid growths in loan loss
provisions and interest expenses.
FBN Holdings closed the second quarter operations with
a net loan portfolio of over N2.08 trillion, which is a
decline from the closing figure of N2.19 trillion for
2014. Its investment portfolio amounted to over N795
billion at the end of the second quarter.
The bank earned N1.10 per share at the end of the
second quarter, which is a decline from N1.14 in the
same period last year. Earnings per share is likely to
decline from the N2.55 the bank recorded at the end of
2014.

NNPC 'may sell refineries' that don’t meet rehabilitation ultimatum – GMD

The Nigerian National Petroleum Corporation (NNPC)
says it may sell refineries that fail to work optimally by
the expiration of the 90-day ultimatum for their rehabilitation. Dr Ibe
Kachikwu, the NNPC Group Managing Director, disclosed this at an interactive session with news men in Lagos. Kachikwu said “by the end of
December when the 90-day ultimatum will expire, Any refinery that does not work optimally will be sold.

“I am determined to make a difference during my
tenure. We are losing N2.2 trillion monthly to refinery
inefficiency. As at today, the average refining
performance is 30 per cent.

“If by December, the refineries don’t work, I will
export crude allocation and import refined petroleum
products until we fix the refineries. Right now, the
Port Harcourt refinery is showing signs that it will
meet the December deadline.
      However, I am not saying Warri and Kaduna refineries
will not meet the deadline, but I hope they all make it,
so that we can continue to utilise our crude allocation
to boost domestic refining.”
Kachikwu expressed the hope that the NNPC cash call
arrears, which stood at N1.1 trillion, would be settled
by the end of December 2015.
“By December, I hope to settle all the cash call arrears
and grow Nigerian Petroleum Development Corporation
(NPDC) to where it is supposed to be,” he said.