Wednesday, 9 September 2020
Innoson Vehicle set to launch 'IVM Connect' to compete with Uber and Bolt in Enugu | News Wheel Nigeria
Innoson Vehicle set to launch 'IVM Connect' to compete with Uber and Bolt in Enugu | News Wheel Nigeria: Innoson Vehicle, IVM has reveal plans to launch a bus-hailing service in Enugu, the eastern part of Nigeria in the first week of Oct Techpoint
Monday, 16 May 2016
Exxon Mobil suspends exports from Nigeria due to renewed militant activities
U.S. oil company, Exxon Mobil Corp, says it has suspended exports from Nigeria’s top crude stream due to renewed activities of militants in the Niger Delta region. A statement from the company says it had declared a force majeure – a suspension of deliveries because of events beyond its control – on Nigeria’s Qua Iboe crude oil grade BFO-QUA, and that a portion of production had been curtailed after a drilling rig damaged a pipeline.
Only last week, Royal Dutch Shell shut down one of its major pipelines and declared force majeure on Bonny Light crude exports due to renewed militant activities in the oil-rich Niger Delta region. A new militant group, Niger Delta Avengers, attacked an oil platform in Delta belonging to Chevron.
Saturday, 14 May 2016
Donald J. Trump Slams Hillary Clinton with this Tweet
Credit: Fox News
Donald J. Trump took to his twitter handle and mocked Hillary Clinton for her inability to beat her party rival, Bernie Sanders, and secure the party's nomination. However, in a new poll released today by One America's National (OAN) poll, Trump beat Hillary with a 10% gap among the Latino voters. The Trump campaign is impressed!
THE FUEL PRICING DEBATE: OUR STORY - Yemi Osibanjo
Nigeria's vice president, Prof. Yemi Osinbajo, gave a detailed insight on the new price hike of fuel on his Facebook page. See what he wrote below...
"I have read the various observations about the fuel pricing regime and the attendant issues generated. You have all certainly raised strong points.
The most important issue of course is how to shield the poor from the worst effects of the policy. I will hopefully address that in another note.
Permit me an explanation of the policy. First, the real issue is not a removal of subsidy. At $40 a barrel there isn't much of a subsidy to remove.
In any event, the President is probably one of the most convinced pro-subsidy advocates.
What happened is as follows: our local consumption of fuel is almost entirely imported. The NNPC exchanges crude from its joint venture share to provide about 50% of local fuel consumption. The remaining 50% is imported by major and independent marketers.
These marketers up until three months ago sourced their foreign exchange from the Central Bank of Nigeria at the official rate. However, since late last year, independent marketers have brought in little or no fuel because they have been unable to get foreign exchange from the CBN. The CBN simply did not have enough. (In April, oil earnings dipped to $550 million. The amount required for fuel importation alone is about $225million!) .
Meanwhile, NNPC tried to cover the 50% shortfall by dedicating more export crude for domestic consumption. Besides the short term depletion of the Federation Account, which is where the FG and States are paid from, and further cash-call debts pilling up, NNPC also lacked the capacity to distribute 100% of local consumption around the country. Previously, they were responsible for only about 50%. (Partly the reason for the lingering scarcity).
We realised that we were left with only one option. This was to allow independent marketers and any Nigerian entity to source their own foreign exchange and import fuel. We expect that foreign exchange will be sourced at an average of about N285 to the dollar, (current interbank rate). They would then be restricted to selling at a price between N135 and N145 per litre.
We expect that with competition, more private refineries, and NNPC refineries working at full capacity, prices will drop considerably. Our target is that by Q4 2018 we should be producing 70% of our fuel needs locally. At the moment even if all the refineries are working optimally they will produce just about 40% of our domestic fuel needs.
You will notice that I have not mentioned other details of the PPRA cost template. I wanted to focus on the cost component largely responsible for the substantial rise, namely foreign exchange. This is therefore not a subsidy removal issue but a foreign exchange problem, in the face of dwindling earnings.
"I have read the various observations about the fuel pricing regime and the attendant issues generated. You have all certainly raised strong points.
The most important issue of course is how to shield the poor from the worst effects of the policy. I will hopefully address that in another note.
Permit me an explanation of the policy. First, the real issue is not a removal of subsidy. At $40 a barrel there isn't much of a subsidy to remove.
In any event, the President is probably one of the most convinced pro-subsidy advocates.
What happened is as follows: our local consumption of fuel is almost entirely imported. The NNPC exchanges crude from its joint venture share to provide about 50% of local fuel consumption. The remaining 50% is imported by major and independent marketers.
These marketers up until three months ago sourced their foreign exchange from the Central Bank of Nigeria at the official rate. However, since late last year, independent marketers have brought in little or no fuel because they have been unable to get foreign exchange from the CBN. The CBN simply did not have enough. (In April, oil earnings dipped to $550 million. The amount required for fuel importation alone is about $225million!) .
Meanwhile, NNPC tried to cover the 50% shortfall by dedicating more export crude for domestic consumption. Besides the short term depletion of the Federation Account, which is where the FG and States are paid from, and further cash-call debts pilling up, NNPC also lacked the capacity to distribute 100% of local consumption around the country. Previously, they were responsible for only about 50%. (Partly the reason for the lingering scarcity).
We realised that we were left with only one option. This was to allow independent marketers and any Nigerian entity to source their own foreign exchange and import fuel. We expect that foreign exchange will be sourced at an average of about N285 to the dollar, (current interbank rate). They would then be restricted to selling at a price between N135 and N145 per litre.
We expect that with competition, more private refineries, and NNPC refineries working at full capacity, prices will drop considerably. Our target is that by Q4 2018 we should be producing 70% of our fuel needs locally. At the moment even if all the refineries are working optimally they will produce just about 40% of our domestic fuel needs.
You will notice that I have not mentioned other details of the PPRA cost template. I wanted to focus on the cost component largely responsible for the substantial rise, namely foreign exchange. This is therefore not a subsidy removal issue but a foreign exchange problem, in the face of dwindling earnings.
Together, Nigeria will prevail".
Freeze on the Fuel Price Hike: A Tortoise with Rigor Mortis
A TORTOISE WITH RIGOR MORTIS ! ! !
The pain of the poor Nigerian at such a time as this is beyond unbearable. I have always supported this government so I took the low 'tortoise' pace of its ruling strategy though unnerving, with optimism, believing that the future is going to be propitious if we can eventually get out of this 'alley'..... However, with the latest hike in petrol prices, the slow paced tortoise has developed rigor mortis, which by definition is 'the stiffness of death'. This fuel increase, will only serve to highlight our harrowing plight, in a country where life prior to this act, was already intolerable.
It's like serving a quit notice to a man whose car was stolen the previous day, after he lost his kids in a fire earlier that week. He had also lost his job a month back, due to depression caused by the discovery that his wife was HIV positive during her autopsy.
There is nothing wrong with removing a subsidy that has been the foundation of the most elaborate corruption scheme in the history of this country. However, is this the best time to do it?
I'm of the humble opinion that when the economic rigor mortis resulting from this fuel hike sets in, and many are faced with the dilemma of choosing between corruption and suffering, a vast majority won't be choosing suffering.
A word like they say, is enough for the wise.
Mark Zuckerberg Commends Jobberman Founders As Internet.org Free Basics Launches in Nigeria
Facebook founder Mark Zuckerberg commended Jobberman founders Olalekan Elude, Ayodeji Adewunmi and Opeyemi Awoyemi in his statement ushering the launch of Internet.org in Nigeria.
See the full text below...
Today we’re partnering with Airtel Africa to launch Internet.org Free Basics in Nigeria.
There’s a lot of innovation across Africa right now, and Nigeria in particular is home to a lot of talented developers.
In 2009, Olalekan Elude, Ayodeji Adewunmi and Opeyemi Awoyemi started a site called Jobberman in their dorm to help connect people looking for work with companies looking to hire. Now Jobberman is one of the top 100 websites in Nigeria, and it gets 5,000 applications every day.
Free Basics offers Nigerians, including 90 million people who are currently offline, the opportunity to access news, health information and services like Jobberman that were built by Nigerians and other developers across West Africa — all without having to pay for data.
Free Basics is now live in more than 40 countries, and half of those are in Africa. Over the next few months, we’ll be doing even more to connect developers with people who can use their apps — and partner with local companies to bring internet to people across Africa who don’t have access to mobile networks.
In the meantime, I’m excited to see what Nigerians build next!
See the full text below...
Today we’re partnering with Airtel Africa to launch Internet.org Free Basics in Nigeria.
There’s a lot of innovation across Africa right now, and Nigeria in particular is home to a lot of talented developers.
In 2009, Olalekan Elude, Ayodeji Adewunmi and Opeyemi Awoyemi started a site called Jobberman in their dorm to help connect people looking for work with companies looking to hire. Now Jobberman is one of the top 100 websites in Nigeria, and it gets 5,000 applications every day.
Free Basics offers Nigerians, including 90 million people who are currently offline, the opportunity to access news, health information and services like Jobberman that were built by Nigerians and other developers across West Africa — all without having to pay for data.
Free Basics is now live in more than 40 countries, and half of those are in Africa. Over the next few months, we’ll be doing even more to connect developers with people who can use their apps — and partner with local companies to bring internet to people across Africa who don’t have access to mobile networks.
In the meantime, I’m excited to see what Nigerians build next!
Tiwa Savage celebrates 1 million followers, steps out in style
Tiwa Savage celebrated over 1 million facebook followers on her page and shared it on her IG page, she also stepped out in a nice top and jeans. She wrote:
Thank you, we are over a milli on Facebook.com/officialtiwasavage #God #Is #Faithful#SavageSoldiers More photos after the cut...
Friday, 13 May 2016
PMS price hike: NLC to begin nationwide strike on Wednesday
Organised labour and its civil society allies have resolved to embark on a nationwide strike from Wednesday, May 18, over the removal of subsidy from petroleum products announced by the federal government on Wednesday.
According to Vanguard, labour leaders will not later than Sunday send a letter to government demanding a total reversal to the N86.50 pump price of petrol before 12 am on Wednesday, otherwise the economy and other sectors would be shut down.
The Best Business Advice I Ever Received
I have listened to so many successful businessmen and leaders around the world. I have about five of them as my mentor and coach.
The one thing they all have in common is "Time Management", they do not play with it. Every second count.
But that is not what I'm going to talk about. I am talking about the best business ideas I've gotten from them.
1. Be quick but be careful: Sometimes you think you've seen the big picture and then decide to jump in and get it executed, forgetting that a lot more is needed to get you up to speed. You need to do more of planning so as to get balance ones you start. Lack of proper planning, keep you out of business.
2. You have to love it: If you don't love what you do, you can never grow in it. Many people are into the business they dread all because they just want to put food on the table. You are wasting your time and that of others. Do business that you love and in the midst of adversity, you'll find a way around it and save your business.
3. Never underestimate your competitors: Know this; "Winners contribute to the peak performance and personal growth of all competitors. They are comfortable going for the throat in competition. They don't give up. They delight in going for the chase". Always have at the back of your mind that no great business thrive without competition.
4. Be tough and be Resolute: You are in-charge of your business and whatever needs to be done, that's your responsibility. Never allow employees or outsiders to grind you down.
5. Form your own opinion: Every decision about your business is yours to make. Don't get me wrong! You have to listen to other people's input but at the end their opinions are only suggestions. The final decision comes from you. Remember, your competitors will hire your employees when you go out of business. They have nothing to lose.
6. Focus on the present first: This is where a lot of people get wrong most of the time. They tend to focus on the future while neglecting the present situation. It's a terrible business policy. You have to know that the present points to the future. Take care of the present conditions first while you look towards the future.
7. A penny saved is a penny saved: No amount is too small or too big for you to save. Why are you wasting that N5 because you feel it cannot buy anything in the market? "little drops of water make a mighty ocean". Save whatever is your profit for further investments.
8. Share the business advice you ever received to help save someone's failing business.
Trump: I Will Release my Tax Returns when Audit is Complete, Not after Election.
Donald Trump said Wednesday he will release his tax returns after an audit is complete. In an Associated Press interview, Trump said “there’s nothing to learn” from his tax returns and dismissed the idea that voters had a right to see them before going to the polls.
But in a tweet late Wednesday afternoon, he said he told the news agency he would release his returns when the audit is finished, “not after the election.”
Donald J. Trump
In interview I told @AP that my taxes are under routine audit and I would release my tax returns when audit is complete, not after election!
In America however, there is no legal requirement for a presidential candidate to make his or her tax returns public, but every major party nominee since 1976 has done so.
But people took to social media, and pointed out that the tax returns could contain valuable information about Trump’s background.
Former Republican presidential nominee Mitt Romney also joined those critics in a post on Facebook, calling it “disqualifying” for a nominee to a major party not to release returns. “Tax returns provide the public with its sole confirmation of the veracity of a candidate’s representations regarding charities, priorities, wealth, tax conformance and conflicts of interest.”
It is disqualifying for a modern-day presidential nominee to refuse to release tax returns to the voters, especially one who has not been subject to public scrutiny in either military or public service. Tax returns provide the public with its sole confirmation of the veracity of a candidate's representations regarding charities, priorities, wealth, tax conformance, and conflicts of interest. Further, while not a likely circumstance, the potential for hidden inappropriate associations with foreign entities, criminal organizations, or other unsavory groups is simply too great a risk to ignore for someone who is seeking to become commander-in-chief.
Mr. Trump says he is being audited. So? There is nothing that prevents releasing tax returns that are being audited. Further, he could release returns for the years immediately prior to the years under audit. There is only one logical explanation for Mr. Trump's refusal to release his returns: there is a bombshell in them. Given Mr. Trump's equanimity with other flaws in his history, we can only assume it's a bombshell of unusual size.
(Anticipating inquiries regarding my own tax release history, I released my 2010 tax returns in January of 2012 and I released my 2011 tax returns as soon as they were completed, in September of 2012.)
So voters will go into the booth not knowing to whom eternally over-leveraged, serially bailed out Trump is beholden twitter.com/politico/statu…
Of course he isn't--can't afford to let voters know how surprisingly cash-poor he really is. Or how he avoids taxes. twitter.com/maggieNYT/stat…
Thursday, 12 May 2016
IT’S A WONDERFUL LIFE…LIVE IT!! (An excerpt from Cracking the Millionaire Code)
How many times have you seen the movie It’s a Wonderful Life? Of all the movies that Jimmy Stewart starred in – and of all the movies that Frank Capra directed – this was, by far, their favorite. It was a movie that was aired in 1946, just after World War II. It might surprise you to hear that it was not a successful movie and disappeared quickly from the movie theaters that year. It was only several years later that this “gem” was discovered and became perhaps the most beloved movie of all time. You probably should see the movie again.
Remember how George, played by Jimmy Stewart, was getting ready to jump off a bridge after the collapse of his small savings and Loan Company? His suicide attempt was thwarted by Clarence, a bumbling angel trying to “earn his wings.” Clarence lets George see what life would have been like had George never been born. George is stunned to realize that even though his finances were in chaos, his Wealth Statement was priceless. Then we watch what happens when George “comes to himself” and enlists the angel in his life. Miracles happen.
Some people might say it’s just a movie. It’s just someone’s interpretation of a fictional story. It’s not reality. But let me ask you, What is reality? Look around at the actors in the movie of your professional life. Isn’t what you see just the manifestation of someone’s idea of the way things should be? Someone (an entrepreneur) wrote a screenplay (business plan) and sold it to a producer (a banker or partner), then hired some actors (employees) and rented some sets (office space) and hired some set designers (interior decorators) and then hired a director (manager) to direct these actors to act in a certain way.
Is reality real? Is this just a movie you’re acting in? Shakespeare said, “All the world’s a stage, and all the men and women merely players.” Are you playing a bit part in someone else’s movie? How would you like to play the lead?
You are the screenwriter, the producer, the director, and the lead actor in the movie of your life. Someday, someone will see your movie. Will you be the Jimmy Stewart who struggles at first and then triumphs? It’s up to you.
The next scene is ready to shoot. You’ve got 24 hours to get some great footage, and I wish you the best of everything. Now...
Remember how George, played by Jimmy Stewart, was getting ready to jump off a bridge after the collapse of his small savings and Loan Company? His suicide attempt was thwarted by Clarence, a bumbling angel trying to “earn his wings.” Clarence lets George see what life would have been like had George never been born. George is stunned to realize that even though his finances were in chaos, his Wealth Statement was priceless. Then we watch what happens when George “comes to himself” and enlists the angel in his life. Miracles happen.
Some people might say it’s just a movie. It’s just someone’s interpretation of a fictional story. It’s not reality. But let me ask you, What is reality? Look around at the actors in the movie of your professional life. Isn’t what you see just the manifestation of someone’s idea of the way things should be? Someone (an entrepreneur) wrote a screenplay (business plan) and sold it to a producer (a banker or partner), then hired some actors (employees) and rented some sets (office space) and hired some set designers (interior decorators) and then hired a director (manager) to direct these actors to act in a certain way.
Is reality real? Is this just a movie you’re acting in? Shakespeare said, “All the world’s a stage, and all the men and women merely players.” Are you playing a bit part in someone else’s movie? How would you like to play the lead?
You are the screenwriter, the producer, the director, and the lead actor in the movie of your life. Someday, someone will see your movie. Will you be the Jimmy Stewart who struggles at first and then triumphs? It’s up to you.
The next scene is ready to shoot. You’ve got 24 hours to get some great footage, and I wish you the best of everything. Now...
Empire's Jussie Smollet confirms his exit from the movie series (tweets)
In the episode which aired on Wednesday, May 11, 2016, Jamal took the bullet for his homophobic father, Lucious Lyon, who had earlier told him he would be happy if he died from AIDS.
Jamal stepped in to stop Freda Gats from shooting Lucious after she found out Lucious killed her father in the prison.
The episode concluded in a cliffhanger with Jamal Lyon in surgery.
Do you think Jamal is out of Empire for real? See tweet below...
Wednesday, 11 May 2016
President Buhari: I'm more interested in the return of stolen assets held in British banks.
Nigerian President Muhammadu Buhari says he is not demanding "any apology from anybody" after UK Prime Minister David Cameron labelled his country "fantastically corrupt".
Speaking at an anti-corruption event in London, Mr Buhari said he was more interested in the return of stolen assets held in British banks. Mr Cameron made the unguarded comments in a conversation with the Queen. He is hosting an international anti-corruption summit on Thursday.
Speaking at an anti-corruption event in London, Mr Buhari said he was more interested in the return of stolen assets held in British banks. Mr Cameron made the unguarded comments in a conversation with the Queen. He is hosting an international anti-corruption summit on Thursday.
Nigeria's billions
Source: Nigeria government figures
President Buhari also commented on how the corrupt practices under the previous government had crippled the Nigerian economy. He said; "Nigerian crude oil is being stolen on an industrial scale and exported, with the proceeds laundered through world financial centres by transnational organised criminals,"
Irish women fight to legalise contraception led by Nell McCafferty
In May 1971, a group of Irish feminists staged a protest to legalise contraception. They travelled from the Republic of Ireland by train over the border to Belfast in Northern Ireland, where it was legal.
There they bought whatever contraceptives they could get over the counter. When challenged by border guards on their return to Dublin, they refused to hand over their contraband and were cheered by crowds.
Nell McCafferty led the protest and spoke to Witness about the struggle to win the right to family planning in Ireland.
There they bought whatever contraceptives they could get over the counter. When challenged by border guards on their return to Dublin, they refused to hand over their contraband and were cheered by crowds.
Nell McCafferty led the protest and spoke to Witness about the struggle to win the right to family planning in Ireland.
Italy's parliament has backed same-sex civil unions in a vote of confidence for centre-left Prime Minister Matteo Renzi
Until Wednesday's vote Italy had been the last major Western democracy not to legally recognise gay partnerships. The issue has been highly controversial in Italy, amid staunch opposition from Catholic conservatives.
According to BBC news, MPs in the lower house voted 369-193 for the government, ensuring that the civil unions bill will become law.
Ahead of the vote, Mr Renzi wrote on Facebook that "today is a day of celebration for so many"
It is a day of celebration for many today.
For anyone who feels finally recognised.
For who sees after years that they are being returned by civil rights so that we don't need any other adjectives
For anyone who has had a hard time tonight and get some sleep for who for days he writes us wondering where celebrate, for those who simply is no longer in the skin.
It is a day of celebration for many today.
Final approval of civil unions is expected later on Wednesday, but that vote by MPs is seen as a formality, as the confidence vote was the crucial hurdle. After many delays the civil unions bill was watered down in order to secure the necessary support.
According to BBC news, MPs in the lower house voted 369-193 for the government, ensuring that the civil unions bill will become law.
Ahead of the vote, Mr Renzi wrote on Facebook that "today is a day of celebration for so many"
It is a day of celebration for many today.
For anyone who feels finally recognised.
For who sees after years that they are being returned by civil rights so that we don't need any other adjectives
For anyone who has had a hard time tonight and get some sleep for who for days he writes us wondering where celebrate, for those who simply is no longer in the skin.
It is a day of celebration for many today.
In these crucial hours I keep close in my heart the thought and the memory of Alessia. And that's enough for me. Because the laws are made for people, not for ideologies. For those who love, not for who proclaims
Let's write another page important of Italy that we want.
We do this by putting the trust because they were not possible further delays after years of failed attempts.
We do it with humility and courage. But we do it now because in Italy it is no longer possible to continue postponing everything.
We do this by putting the trust because they were not possible further delays after years of failed attempts.
We do it with humility and courage. But we do it now because in Italy it is no longer possible to continue postponing everything.
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