Business
Jonathan Assures On Peaceful Polls
President Goodluck Jonathan yesterday expressed confidence that the April general elections would be calm, devoid of the tensions and challenges being experienced in the run-up to the polls.
Jonathan made this known to the new British High Commissioner to Nigeria, Mr Andrew Lloyd, after receiving his letter of credence at the State House, Abuja.
The President spoke about the warm welcome he has enjoyed all over the country since the campaigns for the April elections started,stressing that his candidacy enjoyed widespread national acceptability.
On his plans for the next four years, the President said he would focus on repositioning Nigeria’s economy and raising the country’s profile in the global arena.
“I want to reposition Nigeria’s economy and reinforce the country’s position in global issues and particularly strengthen our relationship with the United Kingdom,’’ he said.
Earlier, the new High Commissioner had said that Queen Elizabeth II and the United Kingdom were interested in the success of Nigeria’s forthcoming elections and the legacy of President Jonathan.
He said Britain was “delighted’’ at the progress of democracy in Nigeria, and assured President Jonathan of his cooperation and support to make his tenure in Nigeria mutually beneficial to the two nations.
The President also received letter of credence from the new Niger Republic’s Ambassador to Nigeria, Mr. Mansour Daddo.
Jonathan told Daddo that Nigeria was happy with the progress of that country’s elections, and hoped the run-off, scheduled for March 12, would be successful.
The President said the people of the two nations were one, and Nigeria would continue to cooperate with the government of Niger Republic.
Earlier in his comments, Daddo expressed his country’s gratitude to Nigeria for all the support during the elections as well as the food assistance his country received from Nigeria.
He added that the first round of the elections went well, while the second round would be held on March 12.
Business
Food Vendors, Others Relocate To New Site At PH Airport
The raging controversy between the Port Harcourt International Airport Management and restaurants/canteen operators and theirallies over relocation has been brought under control, as the operators have commenced relocation to their structures at the new site.
Recall that there had been serious feud over a directive by the Manager of the airport, Mr. Michael Area, for food vendors and their allies to relocate to the new site.
They insisted that the new site was too distant and hence, would negatively affect patronage from customers, with possible loss.
They further also insisted that it wouldcost them much money to put up another structure, given the economic situation in the country, since the airport management did not build any structure for them, apart from providing the empty land they have to also pay for.
The situation had led to flexing of muscles, which made the Airport Manager to order for sealing of all shops, resulting in scarcity of food, as airport users could not find a place to eat, apart from the only Genesis fast food spot available.
As at last Friday, The Tide observed that most of the food vendors had transferred their structures to the new place, and had started doing business there already.
Meanwhile, customers have started settling down at the new location as they were seen patronising shops for foods and drinks, in spite of the distance.
Few of the remaining structures at the old site, The Tide further gathered, will also be removed as quickly as possible, and the owners are making efforts to get funds for the job to be done.
One of them, Mrs Aka Love explained that she was going to relocate to the new place before the end of March.
Currently, business activities at the old site have come to null, as the place which was usually a beehive of food, drinks and relaxation, has completely winded down.
By: Corlins Walter
Business
MOWCA Strengthens Maritime Crime Prevention
Secretary General of the Maritime Organisation of West and Central Africa (MOWCA), Dr. Paul Adalikwu, has stepped up interaction with the United States Government to lift restrictions placed on some member countries allegedly implicated in illicit shipping activities.
Adalikwu, who led a delegation from the MOWCA Secretariat to the US Embassy in Abidjan for a first leg of the strategic consultation aimed at promoting seamless participation of MOWCA countries in international trade within the global maritime space, reiterated the organisation’s commitment to the best ethical and lawful maritime practices.
Addressing the U.S Ambassador to Côte d’Ivoire, H.E Mrs Jessica Davis Ba, the MOWCA SG stated the organisation’s interest in promoting the International Ship and Port facility Security (ISPS) code which aims at enhancing security of vessels and their ports of call.
He expressed the commitment of MOWCA in promoting environmentally friendly, safe and cost effective shipping without any encumbrance that may limit the economic potential of member countries.
Dr Adalikwu recalled that at the instance of the U.S. Department of State invitation, MOWCA participated in the 2023 Registry Information Sharing Compact (RISC) Conference in Larnaca, Cyprus, on February 28–March 1, 2023, and a virtual meeting held on June 6 2023, with Mrs Jennifer Chalmers, Officer in change of Counterproliferation Initiative.
He recalled The U.S. DOS willingness to support MOWCA’s effort for preventive maritime security through the establishment of the Center for Information and Communication (CINFOCOM) with the aim to ensure a maritime situational awareness domain within MOWCA’s member states’ waters.
He added that MOWCA under his watch is committed to training and retraining of maritime practitioners and experts to enhance the human capital capabilities of member states.
The CINFOCOM will help prevent transnational crimes committed at sea like sanctions evasion by North Korea and other state actors, who exploit poor enforcement due diligence by ship open registries to circumvent United Nations and U.S. trade restrictions.
By: Nkpemenyie Mcdominic, Lagos
Business
Nigeria’s Public Debt Hits N97.3trn – DMO
The Debt Management Office (DMO) has hinted that Nigeria’s public debt increased by 10.7 per cent from N87.87 trillion in the third quarter of last year, to N97.34 trillion as at December 31, 2023.
DMO, in an update data released last Friday, said the increase in the debt stock was largely due to new domestic borrowing by the Federal Government to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
The office noted that the N97.3 trillion public debt comprises of domestic debt of N59.12 trillion and external debt of N38.22 trillion. The sum of $3.5 billion was used to service external debt during the review period.
“Nigeria’s Public Debt Stock as at December 31, 2023 was N97.34trillion or $108.229 billion. This amount comprises the domestic and external debt stocks of the Federal Government of Nigeria (FGN), the 36 States Governments, and the Federal Capital Territory (FCT).
“There was an increase of N9.43 trillion over the comparative figure for September, 2023, which was largely due to new domestic borrowing by the FGN to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
“At N59.12 trillion, total domestic debt accounted for 61 percent of the total public debt stock, while external debt at N38.22 trillion accounted for the balance of 39 percent.
“Consistent with the debt management strategy, Nigeria’s external debt stock was skewed in favour of loans from multilateral (49.77 percent) and bilateral lenders (14.02 percent) or total of 63.79 percent which are mostly concessional and semi-concessional.
“Whilst the DMO continues to employ best practice in public debt management, the recent and on-going efforts of the fiscal authorities to shore up revenue will support debt sustainability”, DMO stated.
By: Corlins Walter
-
Business4 days ago
MOWCA Strengthens Maritime Crime Prevention
-
News4 days ago
Emulate Otti, Obey Court Order Stopping Pension To Ex-Govs, SERAP, OBJ Tell Tinubu, Govs
-
Niger Delta3 days ago
Group Commences Mangrove Restoration Initiative In Cross River Communities
-
Sports2 days ago
Tornadoes Fight-Back To Stun Shooting Stars
-
Editorial4 days ago
Delta Killings: Need For Caution
-
Rivers3 days ago
Show Example In Leadership, Cleric Urges Nigerian Leaders
-
Niger Delta2 days ago
Diri Appoints New SSG, CoS, Retains CPS
-
Opinion1 day ago
Restoring Service Commission As Professional Gatekeeper