BusinessDay 30 Jun 2019

Page 1

BDSUNDAY BUSINESS DAY

www.businessday.ng Sunday 30 June 2019

Dick Kramer: When BusinessDay bade goodbye to a visionary

Market & Commodities Monitor Brent Oil

5yr Bond

$62.01

0.00 14.03%

Gold

10yr Bond

$1,344.80

-0.13 14.32%

Cocoa

$2,496.00

20yr Bond

0.03 14.48%

inside

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Insight into Kula’s OML 25: Another Ogoni explosive scenario coming?

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Vol 1, No. 270 N300

?? Courier services, export lift Red

Star Express’ profit by 52%

p.40 p 41.

p.30 - 31

Concerns mount as governors delay on states’ cabinets It is dangerous for the economy - Analysts Appointments not easy decisions - Ex-CPS Nigerians must be patient with new administration - Babatope CHUKA UROKO and INIOBONG IWOK

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lmost one hundred days after winning elections, governors in the 29 states where elections were held in March are yet to appoint commissioners who would

make up, not just the states’ executive council, but also form the think tank for the development of the states’ economy and well being of their people. This strange and ugly state of affairs is, increasingly, becoming a source of worry to many Nigerians and investors. Concerns are mounting because it seems the

governors are imitating President Muhammadu Buhari whohas not constituted his cabinet, despite daunting challenges that deserve urgent attention. Although the delay in appointing ministers after he won election in 2015 has been blamed for the alleged lack-lustre performance of the administration in

the first tenure, it appears that no lesson was learnt from the losses incurred by that mistake. It is now over four months after winning the presidential election and the Presidency seems to be dawdling on the critical matter. Nigeria has been accused of Continues on page 2

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Ondo will be commercial hub of Nigeria in the next five years - Ajipe p. 33

Buhari, other ECOWAS leaders strategise to tackle terrorism, economic crisis Tony Ailemen and Innocent Odoh, Abuja

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resident Muhammadu Buhari and other leaders of the Economic Community of West African States (ECOWAS) have mapped out strategies on how to tackle the lingering crises of insecurity characterised by terrorist attacks, inter-ethnic clashes, and the economic challenges facing West Africa. This was the focus of the 55th Ordinary Session of the ECOWAS Authority of Heads of State and Government, which was declared opened in Abuja on Saturday by President Continues on page 3

L-R: Dapo Adelegan, past president, Nigerian-British Chamber of Commerce (NBCC); Kayode Falowo, president, NBCC and, Michael Olawale-Cole at the installation ceremony of the 16th President, NBCC, in Lagos, recently.

Why Nigerians don’t resign from appointments Daniel Obi

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any Nigerians have wondered why those appointed into public offices in Nigeria hardly resign even when they find out that the

reason for their appointment, or what attracted them to the assignment, may have been compromised by the same people that gave them the job. Over the years, Nigerians have watched as governments and administrations come and go without positively impacting the

masses; often times, excuses are being advanced that “we were not allowed to implement our good plans.” In the first tenure of President Muhammadu Buhari for instance, there were insinuations that some of the ministers who were expected to “perform”

could not “deliver” because “they were not allowed to implement their good ideas.” But the argument was, why did they not throw in the towel as a show of protest? Recall that in a matter of Continues on page 2


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