LABARI

ADDRESS BY HIS EXCELLENCY, MUHAMMADU BUHARI GCFR, PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA AT THE UNITED STATES – AFRICA BUSINESS FORUM, NEW YORK, USA, 21st SEPTEMBER, 2016 Protocol 1. I am delighted to be present here today at the 2nd edition of the United States–Africa Business Forum. I wish to thank the United States Department of Commerce and Bloomberg Philanthropies for organizing this event and for giving me this opportunity to address this august gathering of Political and Business Leaders from the United States of America (USA), Africa and other regions of the World. I believe all of us will take advantage of this Forum to establish and strengthen business relationships; share valuable experience; and collaborate for mutual benefits. 2. The United States has historically been one of Nigeria’s top trading partners; for decades, the US was the biggest importer of Nigeria’s crude oil. In the last two years, however, the sharp decline in US imports of our crude, on acco...

Budget padding: At the appropriate time, the truth will prevail- Dogara Speaker of the House of representatives, Yakubu Dogara, today said the truth regarding the allegations of budget padding leveled against him and some other lawmakers by sacked Chairman of the House committee on Approrpiation, Abdulmumin Jibrin. He said this in his welcome speech to the House of Representatives members "The events of the recent weeks give cause for grave concern and pose existential threats to the corporate integrity and image of the House as a democratic institution designed by the Constitution to play a vital role in our nation’s governmental system. Shortly after we adjourned for the recess, our colleague and erstwhile Chairman Appropriation Committee, embarked on a strange propaganda clearly aimed not only at the destruction of the image of some members but a systematic destruction of the institution of the House of Representatives and indeed the legislature by portraying it to the publ...

Federal Govt., States, Local Governments share N510.2 billion in August The Minister of Finance, Kemi Adeosun, Yesterday Tuesday in Abuja, said N510.2 billion was shared among the federal, states and local governments as revenue realised in August. She made the disclosure while addressing a news conference on the outcome of the Federation Account Allocation Committee, FAAC. The amount is higher than the N493.6 billion shared in July by N16.6 billion. The minister said that during the month, N315 billion was generated as statutory distributable revenue, adding that this was higher than the N287.8 billion received in the previous month by N27.22 billion. She added that “the sum of N6.3 billion was refunded to the Federation Account by Nigerian National Petroleum Corporation (NNPC). “There is a proposed distribution of N35 billion Excess Petroleum Profit Tax. “Also, there was the exchange gain of N84.2 billion proposed for distribution.’’ She also said that Value Added Tax (VAT) ...

Patience Jonathan will not go scot free if guilty – Ibrahim Magu has promised that he would not spare anyone guilty of money laundering – The EFCC chairman noted that some bank officials helped corrupt people to launder fund – He vowed that bank officials promoting crime will also be dealt with Ibrahim Magu who is the chairman of the Economic and Financial Crimes Commission (EFCC) has promised Patience Jonathan she would be investigated for the $15,591,700 she claimed belonged to her. The anti-graft agency had placed restriction on the an account which the former first lady later claimed to be hers. Ibrahim Magu, chairman of the EFCC says corrupt people will not be spared The Guardian reports that the account is being fingered as one of those involved in an alleged fraud case before a Federal High Court sitting in Lagos but Mrs Jonathan’s counsel, Gboyega Oduwole has filed a case before the court, informing that his client is unhappy with the EFCC over the recent move to freez...

President Muhammadu Buhari has assured President Barack Obama of the United States of America that his government was making frantic efforts to resolv the crisis in the Niger Delta region which he said has led to economic sabotage on a grand scale. This was as Obama stated that the America government had confidence in the current political leadership in Nigeria. Both president spoke at a bilateral meeting on the sidelines of the 71st edition of the UN General Assembly, holding in New York. President Buhari disclosed: "We are making definite progress on how many factions of the militant groups exist, their leadership and operational basis, and we have equally sought the cooperation of the oil majors. In a short while, I believe the issues would be resolved." A statement by Buhari's spokeman, Mr. Femi Adesina stated that while thanking America for help rendered in the area of security through provision of armaments, training for Nigerian troops, and sharing of intellige...

NLC to Patience Jonathan: What business did you do to earn $31m? The Nigeria Labour Congress, NLC, has called on former First Lady, Patience Jonathan, to tell Nigerians what business she did to accumulate the $31 million found in the accounts frozen by the Economic and Financial Crimes Commission, EFCC. The call for Mrs Jonathan to open up was made in Abuja by the President of the NLC, Mr. Ayuba Wabba, insisting that she has a responsibility to prove to Nigerians that the money in question was legitimately earned and that she must tell Nigerians the kind of business she did or doing to make such huge sum of money. Wabba, who insisted that in other climes, the money would have been confiscated, said: “We have said it over and over again that NLC is the first organisation that actually supported openly the anti-graft war. We said recover, investigate and prosecute so that it can serve as a deterrent. “Our position has been clear on the issue of the frozen $31m. In this respect, the ...

THEY WILL NOW ALSO HATE CHIEF DR. ORJI UZOR KALU....... “The recession started in 2014. It is just that Nigerians are biased. When I shouted in 2014 when Federal Government started borrowing money to pay civil servants and I said there was recession, they abused me, but I saw it coming." ~ Dr. Orji Uzor Kalu, former Governor of Abia State And I add that even Madam Ngozi Okonjo-Iweala confirmed that they were borrowing hundreds of billions of naira to pay federal workers. By the way, wasn't that the reason they left a debt of $62 billion coupled with 27 states that couldn't pay workers salaries and PMB had to bail those states out with earnings from NLG? Have we ever heard that our country was earning anything from NLG?