Rainfall, Thunderstorm Looms As NiMet Releases Three-days Forecasts

Forecast Details:

  • Thursday:
  • Morning: Isolated thunderstorms are expected in areas such as Kebbi, Sokoto, Taraba, Gombe, Borno, Yobe, Kaduna, and Adamawa.
  • Later in the Day: Thunderstorms are predicted for Borno, Jigawa, Katsina, Kano, Kaduna, Yobe, Zamfara, Bauchi, Gombe, and Adamawa.
  • North Central Region:
  • Morning: Moderate rainfall is expected in parts of Niger State.
  • Later in the Day: Similar conditions are anticipated in the Federal Capital Territory (FCT), Plateau, Nasarawa, and Benue States.
  • Southern Region:
  • Afternoon and Evening: Intermittent rainfall is expected across states like Imo, Abia, Ebonyi, Enugu, Rivers, Bayelsa, Akwa Ibom, and Cross River.
  • Friday:
  • Morning: Thunderstorms in Yobe, Jigawa, Katsina, and Kano.
  • Afternoon and Evening: Scattered thunderstorms in the northern region. Isolated rains expected in Niger, Nasarawa, FCT, and Plateau. Moderate rains later in Niger, Plateau, Kogi, Nasarawa, FCT, and Benue.
  • Southern Region: Cloudy in the morning with intermittent rains later.
  • Saturday:
  • Morning: Isolated thunderstorms in Sokoto, Kaduna, Bauchi, Zamfara, Adamawa, Taraba, and Kebbi.
  • Afternoon and Evening: Widespread thunderstorms across the northern region. Moderate rains in FCT, Nasarawa, and Benue.

Advisory:

NiMet has warned residents in major cities to avoid flood-prone areas due to the risk of urban flooding. Additionally, strong winds may accompany the rains, and the public is advised to stay informed through NiMet updates and adhere to safety advisories.

UK Economy Slows in Q2 with 0.6% Growth Ahead of General Election

The United Kingdom’s economy experienced a slight slowdown in the second quarter of 2024, with growth of 0.6% compared to 0.7% in the first quarter, according to data released by the Office for National Statistics (ONS) on Thursday.

This report covers the period leading up to the country’s general election in early July, where the centre-left Labour Party secured victory on a platform promising significant economic growth.

Reacting to the latest figures, Finance Minister Rachel Reeves acknowledged the challenges ahead for the new government, stating, “The new government is under no illusion as to the scale of the challenge we have inherited after more than a decade of low economic growth and a £22 billion ($28 billion) black hole in the public finances.”

Reeves emphasized that economic growth is the new government’s top priority, adding, “We are taking the tough decisions now to fix the foundations, so we can rebuild Britain and make every part of the country better off.”

The report comes as the UK continues to navigate economic uncertainty and the impacts of both domestic and global factors on its financial stability.

Aviation Workers to Stage Nationwide Protest Over FG’s 50% Revenue Deductions

Aviation workers have announced plans to stage a protest next week against the federal government’s policy of deducting 50% of internally generated revenue (IGR) from airports across the country.

The workers argue that the federal government’s deductions are severely impacting airport operations, and despite multiple efforts to engage with the government, no resolution has been reached.

This decision was made public in a statement released on Wednesday, titled “Save Aviation from Collapse – Notice of Nationwide Protest.” The statement was signed by leaders of several unions, including the National Union of Air Transport Employees, the Association of Nigeria Aviation Professionals, the National Association of Aircraft Pilots and Engineers, the Amalgamated Union of Public Corporations, Civil Service, Technical and Recreational Services Employees, and the Air Transport Services Senior Staff Association of Nigeria.

The statement declared: “All workers of the NCAA, FAAN, NAMA, NiMet, NCAT, and NSIB, supported by all aviation workers, are hereby directed to embark on peaceful protests at all airports nationwide on Wednesday, August 21, 2024. This protest is to demand the discontinuation of the 50% deduction from the internally generated revenue of the aforementioned agencies.”

The unions emphasized that their attempts to convince the Federal Government that these agencies are cost-recovery, not profit-making organizations, have failed. They argued that these agencies cannot survive on half of their income under any administrative model.

“Information available to us indicates that some critical safety activities within these agencies are being compromised due to these deductions. As trade unions and aviation workers, we feel compelled to alert the public and the government that we will not be held responsible if the industry becomes dysfunctional due to financial incapacity caused by these deductions.”

The unions also called on all State Councils, Women Commissions/Committees, Youth Councils, and Branches nationwide to mobilize fully for the peaceful protests and ensure their success.

French Court Seizes Nigerian Presidential Jets Amid Dispute with Chinese Firm

A French court has ordered the seizure of three Nigerian presidential jets in connection with a legal dispute involving the Chinese company, Zhongshan. The dispute arose from a business conflict with the Ogun State government, leading to this significant legal action.

The seized aircraft include a Dassault Falcon 7X located at Le Bourget airport in Paris, a Boeing 737, and an Airbus 330 at Basel-Mulhouse airport in Switzerland. All three jets are part of Nigeria’s presidential air fleet and were undergoing maintenance at the time of seizure.

The conflict dates back to 2016, when the Ogun State government revoked Zhongshan’s contract for managing an export processing zone. An independent arbitral tribunal later awarded Zhongshan $74.5 million in compensation, but the Ogun State government has yet to pay the amount. In response, Zhongshan pursued enforcement of the award against Nigerian assets abroad, leading to the French court’s decision.

The court’s order prohibits any movement, sale, or purchase of the seized jets until the $74.5 million is paid. This action follows a similar incident in the UK, where Nigerian-owned properties in Liverpool were seized in connection with the same dispute. The Nigerian government has yet to officially comment on these seizures.

Black Market Dollar to Naira Exchange Rate for August 15, 2024

The exchange rate for the dollar to naira at the black market, also known as the parallel market (Aboki fx), is as follows for today, August 15, 2024:

In the Lagos Parallel Market, a dollar is bought for N1595 and sold for N1600, according to sources at Bureau De Change (BDC). It is important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market and advises individuals seeking foreign exchange to approach their respective banks.

Dollar to Naira Exchange Rates Today:

Black Market:

  • Buying Rate: N1595
  • Selling Rate: N1600

CBN Official Rate:

  • Buying Rate: N1579
  • Selling Rate: N1580

Please be aware that actual rates may vary depending on where and when you conduct your forex transactions.

Insights from Port Harcourt Refinery Visit

Billy Gillis-Harry, the national president of the Petroleum Products Retail Outlets Owners Association of Nigeria, recently visited the Port Harcourt Refinery and shared positive feedback about the facility’s readiness to start producing petroleum products in large quantities. He expressed optimism that the refinery, along with the Dangote Refinery, would soon begin commercial production, helping to alleviate fuel shortages across Nigeria.

Gillis-Harry noted that efforts are in place to ensure the Port Harcourt Refinery becomes operational soon. This sentiment was echoed by oil and gas specialist Zakka Bala, who emphasized the importance of revitalizing Nigeria’s refineries for the country’s energy security.

N’Assembly Speaker Withdraws Controversial Counter Subversion Bill Amid Public Outcry

Speaker of the House of Representatives, Abbas Tajudeen, has withdrawn the controversial Counter Subversion Bill after widespread public backlash. The bill, which had only passed the first reading, sparked significant controversy due to its stringent penalties, including a 25-year imprisonment or N10 million fine for those convicted of actions leading to separatist agitation or inter-group conflict.

The bill also proposed severe penalties for acts like refusing to recite the national anthem, defacing places of worship, and undermining the Federal Government. These provisions drew sharp criticism from various quarters, leading to calls for its immediate withdrawal.

On Wednesday, Speaker Abbas initially defended the bill, stating that it was intended to strengthen Nigeria’s anti-terrorism framework. However, later that day, he announced its withdrawal, citing “extensive consultations” with stakeholders and a commitment to preserving national unity.

The decision was welcomed by advocacy groups like the Take It Back Movement, which argued that the bill threatened Nigerians’ fundamental rights, including freedom of speech and assembly. The group urged the House to focus on more pressing issues such as poverty and hunger rather than legislation that could infringe on civil liberties.

Dangote Group Stocks Face Decline Amid Forex Crisis and Merger Rejection

The stock prices of the Dangote Group, including Dangote Sugar Refinery and NASCON Allied Industries, have recently fallen due to foreign exchange losses and the Securities and Exchange Commission’s decision to reject a proposed merger.

The ongoing inflation and volatility in the forex market have compounded these challenges, with the depreciation of the naira increasing the cost of imported raw materials and squeezing profit margins. From May to August 2024, Dangote Sugar Refinery’s stock dropped by 18.67%, while NASCON’s stock decreased by 12.57%. In contrast, Dangote Cement saw a 41% rise in its share price during the same period.

The merger, which involved Dangote Sugar Refinery, NASCON, and Dangote Rice Limited, was suspended following concerns from the Securities and Exchange Commission regarding Dangote Rice Limited’s non-operational status. Despite these setbacks, Dangote Group is actively exploring growth opportunities, with analysts attributing the stock fluctuations to broader market challenges rather than individual company performance.

Financial experts highlight the impact of forex losses and regulatory decisions on investor confidence, while industry leaders urge swift action to resolve ongoing challenges to maintain Nigeria’s appeal to foreign investors.

OPINION: THERESA AKWAJI USHIE: Principled, Enigmatic, And Compassionate Woman Leader Called To Selfless Grassroots Service

Evangel Amarachi highlights Ushie’s achievements as she takes a shot at becoming Bekwarra Local Government Council Chairman….

Hon. Theresa Akwaji Ushie is a trailblazing and visionary leader whose unwavering dedication to public service, community development, and social welfare, has left an indelible mark in the lives of countless individuals. With a distinguished career spanning multiple leadership positions across various organizations, she has consistently demonstrated a commitment to excellence, compassion, and principled leadership.

As a seasoned politician, Hon. Ushie, has held numerous competitive roles, including membership in the the Tinubu/Shettima Presidential Campaign Council, the Sen. Prince Bassey Otu Environment Cluster Transition Committee and Think Tank Sen. Umaru Tanko AL-Makura Campaign Council, among others. Her expertise and strategic thinking have been invaluable assets to these organizations, informing policy decisions and shaping campaign strategies that have resonated with diverse audiences.

Beyond politics, Hon. Ushie is a passionate advocate for women’s empowerment, youth development, and social justice. As President/Founder of the Rural Women Support Group and Director of Women and Youth Affairs at NUMBAT, she has championed initiatives that have overtime transformed lives and fostered inclusive growth. Her “Rural Women Initiative” support group has empowered women and girls in rural communities across 5 LGAs in Cross River North, providing them with access to self-care, vocational training, resources, skills, and opportunities that have generally enhanced their socio-economic well-being. It is imperative to note that this support has been ongoing since 2018, including canvassing for qualified APC candidates and flag bearers across Cross River North at all tiers of government.
Hon. Ushie’s achievements are numerous and noteworthy. She has contested for public office, demonstrating her courage and commitment to public service. Her philanthropic efforts have included empowering widows with food, clothes, and cash gifts, distributing over 3200 sanitary pads to girl children, and providing free JAMB registration for over 50 tertiary education seekers in Bekwarra, 2024. These initiatives have not only assisted in alleviating suffering but also promoted education, health, and economic empowerment.

Her advocacy for the ”Women and Girl Child in Rural Areas” initiative led to NITDA/NCC training 6000 youths and women in content creation and digital marketing in 2021, bridging the digital divide and unlocking new opportunities for rural communities. Her contribution to the Nigerian Senate’s bill on the National Social Security Commission in 2022, underscores her dedication to policy-making and social welfare, ensuring that the voices of marginalized communities are heard and their needs addressed.

Through her foundation, Theresa Ushie Foundation, and her role as a Board of Trustee at EAFOUNDATION, Ushie continues to drive positive change, leveraging her network and expertise to amplify impact. Her partnership with the Civil Society Group for Good Governance (CSGGG) and membership in Team Ma Adiaha Solidarity Movement, further solidify her position as a respected leader and change agent, committed to promoting good governance, transparency, and accountability.

Hon. Ushie’s leadership philosophy is rooted in empathy, compassion, and a deep understanding of the needs of marginalized communities. She believes in empowering individuals and groups to become agents of change, fostering a culture of inclusivity, and promoting social justice. Her approach is collaborative, and she has built coalitions and partnerships across sectors to drive impact.

It Is a gainsaying that accolades and recognition should be given to the very one who deserves it, Hon. Ushie’s contributions have not gone unnoticed. She has received numerous accolades and recognition for her leadership, philanthropy, and commitment to public service. Her reputation as a principled and compassionate leader has earned her the respect and admiration of her peers, constituents, and the wider community.

On legacy and impact, Ushie’s legacy extends beyond her achievements. She has inspired a new generation of leaders, mentored countless individuals, and created a ripple effect of positive change that will be felt for years to come. Her impact is a testament to the power of selfless leadership, and her commitment to creating a better world for all.

As Hon. Ushie aims and continues to serve and lead, her future prospects are bright. Her expertise, experience, and network positions her for even greater impact. Whether in politics, philanthropy, or community development, she will undoubtedly remain a force for good, driving positive change and inspiring others to do the same.

The family front is well developed because her commitment to excellence extends beyond her professional life. As a mother, she has diligently trained and nurtured her children, instilling in them the values of hard work, discipline, and leadership. Her last child’s achievements are a testament to her dedication and parenting, having attained significant positions in school such as the former SUG President of the University of Abuja, amongst others. Her ability to balance her personal and professional life, while prioritizing her children’s well-being and success, is a remarkable feat that deserves recognition and admiration.
These accomplishments from her children, are a reflection of her unwavering support and guidance, demonstrating her exceptional ability to mentor and inspire the next generation. As a role model, she has shown that with determination and perseverance, one can overcome challenges and achieve greatness.

This is a call for support as she vyes for the position of Local Government Council Chairman in Bekwarra Cross River State , our faith should be strengthened that in Hon. Theresa Ushie, we will find a rare combination of leadership, compassion, and integrity. A shining example of what it means to live a life of purpose, compassion, and service. With her proven track record of leadership, passion for community development, and experience in public service, she is well-equipped to excel in this role.

Finally, as Hon. Ushie vies for the position of Local Government Council Chairman, we are called to support her vision for a better Bekwarra. Let us rally behind her leadership, inspired by her achievements, and motivated by her commitment to creating a brighter future for our community.

JUST-IN: Nigerian Man, Bashir Hadeja Nabbed for Treason, Gun-Running, and Transnational Crimes [Video]

Security operatives have Arrested Mr Bashir Hadeija, over treason, subversive activities, gun-running and transnational crimes.

A Nigerian who specialises in money laundering and other transnational crimes was over the weekend arrested for treason, subversive activities against the Nigerian government, Trans-border gun-running, heist, and other Transnational crimes.

The man whose name was given as one Bashir Hadeja was arrested by the Nigerian police following intelligence reports on smuggling large catches of weapons along with bars of gold believed to have been stolen from the Central Bank of Libya.

Bashir Hadeja, who traded dangerous weapons along with gold as cover-up, was also accused of being involved in aiding terrorism and other forms of criminality in the northern states of Nigeria along with his sponsors, including a serving PDP Governor in one of the North Western States, among other politicians of both Northern and Southern extractions.

Responding to sustained interrogations by security, the suspect also confessed to sponsoring a large number of youths who participated in the just concluded #EndBadGovernance Protests in Kano, Kaduna, Jigawa and Abuja.

The suspect also confessed to being involved in schemes that involved the blackmailing of politicians and government officials.

He also confessed to sponsoring the attack on Jigawa state APC headquarters.

The suspect was also found with increminating documents of impersonation, including tracking documents of high profile personalities and an international passport of the Republic of Vanuatu, which will expire on the 14th of September, 2030.

During the investigation, a video showing the suspect displaying bars of gold carrying Gaddafi’s statue worth one tone believed to have been stolen from the Libyan Central Bank was also seen.

The suspect is currently cooperating on the investigation, opening up to name his sponsors and other allies, including a former director of the Department of State Security Service, DSS.

SEC Grants Extension for Access Holdings’ ₦351bn Rights Issue Amid Nationwide Protests

The Securities and Exchange Commission (SEC) has approved an extension of Access Holdings Plc’s ongoing ₦351 billion rights issue to August 23, 2024. Originally scheduled to close earlier, the extension was granted in response to the widespread hunger protests across Nigeria, which have disrupted business operations and limited shareholder participation.

Access Holdings had offered 17.772 billion ordinary shares at ₦19.75 each, on the basis of one new share for every two held as of June 7, 2024. The company’s statement, signed by Group Company Secretary Sunday Ekwochi, emphasized that the extension aims to give shareholders ample opportunity to subscribe to their rights despite the challenges posed by the protests.

During this extended period, dealings by company insiders will remain restricted to participation in the rights issue, in accordance with regulations governing the non-dealing period related to the company’s audited interim financial statements for the period ended June 30, 2024.

Acting Group Chief Executive Officer of Access Holdings Plc, Bolaji Agbede, noted that the rights issue is a crucial part of the group’s strategy to bolster its financial strength and pursue its growth ambitions. Agbede expressed confidence that this capital raise would help propel Access Holdings toward its goal of becoming one of Africa’s top five financial institutions by 2027.